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Signature Aviation Blesses $4 3 Billion Blackstone Approach

Signature Aviation Blesses $4.3 Billion Blackstone Approach Bloomberg 12/21/2020 © Photographer: Luke MacGregor/Bloomberg A seat belt inside the cabin of a private jet. (Bloomberg) Signature Aviation Plc said it will accept a $4.3 billion buyout from Blackstone Group Inc. if the U.S. private-equity firm makes a solid offer. Popular Searches The U.K. company, whose No.1 shareholder is Bill Gates, would accept the $5.17-a-share price made in an approach by Blackstone, according to a statement Monday. The offer represents the U.S. firm’s sixth proposal to buy Signature Aviation, the world’s leading operator of private jet bases. A lower bid from Global Infrastructure Partners was already rejected and both suitors were given 28 days to issue formal proposals or withdraw. The Blackstone offer represents a premium of 44% compared with the closing price on Dec. 16, before the Blackstone approach was announced.

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