Global Infrastructure Partners Confirms Approach to Signature Aviation
December 22 2020 - 10:27AM
Dow Jones News
By Adria Calatayud
Global Infrastructure Partners said Tuesday that it has made an
approach to Signature Aviation PLC regarding an offer, and that it
is continuing to explore all of its options.
Under U.K. takeover rules, GIP must by Jan. 14 either announce a
firm intention to make an offer for U.K. aviation-support-services
company Signature or walk away.
GIP, an infrastructure fund manager, said it had made its
approach before Signature disclosed on Dec. 17 that it was in talks
with Blackstone Infrastructure Advisors LLC and Blackstone Core
Equity Management Associates LLC over a possible 3.17 billion-pound
($4.27 billion) takeover.
There can be no certainty that any firm offer will be made, GIP
said.
On Monday, Signature said its board would be minded to recommend
a firm offer for the company at the price set out in the Blackstone
proposal.
Shares in Signature at 1451 GMT were up 4.1% at 388.30
pence.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
December 22, 2020 10:12 ET (15:12 GMT)
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