GIP joins Blackstone in Signature Aviation bid
February 8, 2021- Share:
Global Infrastructure Partners has teamed up with Blackstone and Bill Gates' Cascade Investment in a bid to acquire London-listed private jet operator Signature Aviation for $4.7 billion. The offer, which Signature's board recommended, represents a 53% premium to Signature's closing price on Dec. 16, the last business day before the offer period began. Before joining forces with Blackstone and Cascade, GIP offered to buy the company for $4.6 billion last month.
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