PERTH, Australia — Shares of Austal Ltd. climbed $0.31, or 7.13%, to $4.66, after the defense shipbuilder confirmed it had received a non-binding offer valuing its U.S. shipbuilding operations at between US$1.25 billion and US$1.35 billion, from a syndicate led by mining company Wildcat Resources Ltd.

Austal disclosed the offer in an announcement to the ASX, sending shares sharply higher in early trading. The proposed transaction would see Austal USA, the company's American shipbuilding subsidiary, continue operating independently under the existing Austal brand should the deal ultimately proceed, according to the company's statement.

Austal's board and financial advisers are now reviewing the proposed transaction, with the company emphasizing that there is no guarantee the offer will progress to a binding agreement given it remains subject to further due diligence and other customary conditions typical of a transaction of this scale.

Austal, headquartered in Henderson, Western Australia, has built its business around the design, manufacture and support of maritime vessels for both commercial and defense customers across the United States, Australia, Europe, Asia and South America. The company operates through four key segments: USA Shipbuilding, USA Support, Australasia Shipbuilding and Australasia Support. Its offerings span the design and construction of advanced naval and defense vessels, alongside commercial platforms including passenger ferries, vehicle passenger ferries, offshore and wind farm support vessels, and patrol boats for government law enforcement and border protection agencies, including Australian........

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