Austal had already rejected the bid on the basis that it would be too difficult to achieve mandatory regulatory approvals in the US and Australia. An Austal media release on 2 April said the Hanwha indicative proposal was subject to numerous conditions, including due diligence, various regulatory approvals including Australia's Foreign Investment Review Board (FIRB), the Committee on Foreign Investment in the United States (CFIUS) and the US Defense Counterintelligence and Security Agency, final approval of the Hanwha Board, the unanimous recommendation of the Austal Board and Austal shareholder approval. The media release highlighted the government approvals aspect which it claimed was particularly relevant given Austal's position as the designer and builder of defence vessels for the Australian and US navies and ownership clauses associated with defence contracts.