BBAVF - Signature Aviation indicates it would accept Blackstone offer

Signature Aviation (BBAVF) (BBAVY) said it would recommend a cash offer of $5.17 per Signature share, which equates to £3.86 per share, to shareholders if Blackstone makes a firm offer at the price the private equity firm set out in a proposal.It's the sixth proposal Signature received from Blackstone since the two companies started discussions in February 2020.Talks between Signature, which provides bases and services for private jets, and Blackstone Infrastructure Advisors LLC and Blackstone Core Equity Management Associates remain ongoing, and a firm offer isn't guaranteed.The Blackstone proposal represents a 44% premium to the close price of 268 pence per Signature share on Dec. 16, 2020, the last business day before the start of the offer period.It also represents an enterprise value multiple of ~14.9x Signature's pre-IFRS 16 continuing group adjusted EBITDA for CY2019 of $348.7M.For Blackstone, the acquisition would add to its infrastructure investments, one of the areas

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Signature Aviation indicates it would accept Blackstone offer