Blackstone, Bill Gates Weigh $4.3B Signature Aviation Bid
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Signature Aviation Plc, allying with
Blackstone Group Inc.’s $4.3 billion approach for the world’s biggest operator of private jet bases.
Gates’s
Cascade Investment LLC, the No. 1 shareholder in Signature Aviation, and Blackstone are in advanced discussions with the London-based firm on a $5.17-a-share cash offer, they said in a statement. Signature had said in December it would accept an approach from Blackstone if a firm offer were made at that level.
The involvement of Gates means Blackstone becomes the firm favorite to purchase Signature after
Blackstone, Gates team up for Signature Aviation bid as Carlyle circles
01/08/2021 | 07:35am EDT
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(Reuters) - Blackstone won over Signature Aviation s biggest shareholder Bill Gates for a possible $4.3 billion bid for the British private jet servicing company, going head-to-head with another potential suitor Carlyle.
Blackstone s agreement with Gates Cascade Investment Llc for its planned offer announced on Friday comes just hours after Signature confirmed an initial takeover approach from Carlyle.
Blackstone and Cascade, which already owns a 19% stake in London-based Signature, are in advanced talks with the company about their proposal that involves a cash offer of 3.81 pounds per share, they said in a joint statement.