Signature Aviation PLC - London-based aviation services - Noting rise in its share price, confirms it is in talks with Blackstone Infrastructure Advisors LLC and Blackstone Core Equity Management Associates LLC for a possible cash takeover offer of USD5.17 per share, about GBP3.83. This is a 42% premium to Signature's closing price on Wednesday of 269.20 pence and would value the entire FTSE 250 company at GBP3.17 billion. Says it has also received an indicative proposal from Global Infrastructure Partners for a takeover but rejected this on Thursday as it was lower than Blackstone's offer. Says there is no certainty that a formal offer will be made by Blackstone, and it will make a further announcement when appropriate.
Current stock price: 373.20p, up 39% Thursday
Year-to-date change: up 18%
By Tom Waite; thomaslwaite@alliancenews.com
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