Australian companies have attracted takeover approaches from private equity firms and overseas investors during 2026, although only a limited number have progressed beyond preliminary stages. Atlas Arteria received a A$6.89 billion offer from IFM Global Infrastructure Fund, while BlueScope Steel rejected a A$13.15 billion proposal from SGH and Steel Dynamics. Cleanaway Waste Management granted EQT Infrastructure exclusive due diligence after receiving a A$9.4 billion offer. FleetPartners is reviewing revised bids from SG Fleet, ORIX and a Sumitomo-led consortium worth up to A$982.1 million. Ingenia Communities rejected Warburg Pincus’ A$1.94 billion offer, and talks involving Lynas Rare Earths did not proceed. Perpetual rejected EQT AB’s A$2.55 billion offer but is considering a possible improved proposal. Reliance Worldwide agreed to a roughly $2.9 billion buyout from Brookfield, while Steadfast accepted a A$7.7 billion bid from a KKR-backed consortium. Tokio Marine has identified Suncorp as a preferred takeover target, although discussions remain uncertain.