(Sharecast News) – Takeover target Signature Aviation on Friday confirmed it had received an approach from US private equity firm Carlyle on a possible offer for the company.
The world’s largest operator of private jet bases, is currently weighing a joint approach from rival investment firm Blackstone and Microsoft founder Bill Gates via his Cascade Investment that would value Signature at around $4bn (£3.2bn)
In a statement on Friday, Signature advised shareholders to take no action on the Carlyle approach.
Blackstone, in a separate announcement to the market, said it and Cascade were in “advanced discussions with Signature” on a cash offer of $5.17 (£3.81) a share for Signature share not already owned or controlled by Cascade.
Signature, formerly known as BBA, last month said it would currently be minded to recommend a firm offer for Signature at the price offered.
Gates owns a 19% stake in Signature through Cascade valued at more than £660m. Carlyle is a buy-out investor with $230bn under management, while Blackstone has £580bn.
Business and private jets have largely avoided the crisis that has crippled the broader aviation industry during the coronavirus pandemic as wealthy passengers travel to do business or escape Covid lockdowns.
