Private equity giant Blackstone on Jan. 8 said it had joined forces with Microsoft founder Bill Gates to pursue a bid for Signature Aviation. Gates’s Cascade Investment is the private-jet servicing company’s biggest shareholder with a 19% stake.
Blackstone and Cascade said they were in “advanced discussions” with Signature over a cash offer worth $5.17 per share. The offer values the company at $4.29 billion. Blackstone will own 70% of the bidding vehicle, with Cascade owning 30%. The announcement came the day after Signature confirmed a takeover approach from private equity rival Carlyle.
edwardcropley Former Gatwick owner outbids Blackstone for Signature Aviation
ReutersBiz edwardcropley I guess BillGates is getting ready for the rich trip to Mars...
ReutersBiz edwardcropley Gates filthy rich thru software that benefits all rich & poor like me. My first Dell computer had his software. Now he wants to make money pandering to ultrarich who use his airports. Hope he donates that money to poor. Like Robinhood?
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