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Signature Aviation 'minded to recommend' Blackstone takeover bid
StockMarketWire.com
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Aviation services group Signature Aviation said it was minded to back a takeover bid for the company made by private equity group Blackstone.
Blackstone Infrastructure Advisors and Blackstone Core Equity Management Associates had offered $5.17 per Signature share, equating to £3.86 in sterling and a 44% premium to the company's closing price on 16 December.
Signature Aviation said its board had indicated to Blackstone that it would 'currently be minded to recommend a firm offer' for the company at that price.
It added that the approach was one of six that it had received from Blackstone, with the first made in February.
'Discussions between the parties remain ongoing,' Signature Aviation said.
'A further announcement will be made as and when appropriate. There can be no certainty that any offer will be made nor as to the terms of any offer.'
Story provided by StockMarketWire.com
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