Money Makers Mentor

Blackstone Outbid for Signature Aviation

Private equity firm Blackstone is outbid for Signature Aviation by the former owner of Gatwick, a London airport. Alongside Blackstone’s joint bid with Cascade Investment, the firm Carlyle was also outbid. The deal for the Bill Gates-backed private jet services firm is worth $4.63 billion. Due to the speculation of a counterbid, shares in Signature Aviation rose 9 percent to top the UK midcap index.

The deal was made with Global Infrastructure Partners (GIP), which still manages about 50 percent of Gatwick shares on behalf of investors, and offers Signature investors $5.50 a share in cash. In comparison, Blackstone and Cascade jointly offered $5.17 per share. While commercial airlines have struggled during the COVID-19 pandemic due to travel restrictions, private air travel has bee…

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