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What’s up with the Signature Aviation (SIG) share price?
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Signature Aviation(LSE:SIG) share price took quite a tumble in early 2020. With the pandemic wreaking havoc on the aerospace sector, the company saw its stock slashed by nearly 50% within a few months. But after making a steady recovery, the SIG share price exploded by more than 40% in a day. And over the last 12 months, it’s up more than 120%. What caused this enormous growth?
The explosive Signature Aviation (SIG) share price
Blackstone. The proposed deal was priced at $5.17 per share, representing a 44% premium that day. Naturally, after the announcement was made, the SIG share price shot up to match the offer. But this rise was not due to the underlying business operations. It therefore explains why it has remained pretty much flat since January.
HSBC Bank US becomes lender for Brown in relation to Signature buy
Wed, 7th Apr 2021 17:51
(Alliance News) - Brown Bidco Ltd on Wednesday said HSBC Bank US, National Association agreed to become a lender in relation to its Signature Aviation PLC acquisition.
Back in February, Brown Bidco and Signature Aviation had reached agreement on a recommended cash acquisition by Bidco of the entire issued and to be issued share capital of Signature Aviation.
Brown Bidco is a newly formed company indirectly owned by Blackstone Infrastructure, Blackstone Core Equity, Global Infrastructure Partners and Cascade Investment LLC.
The offer values the aviation services company headquartered in London at USD4.73 billion, about GBP3.46 billion.
Signature Aviation Shareholder NNS Plans To Vote In Favour Of Takeover
Mon, 22nd Feb 2021 09:32
(Alliance News) - Signature Aviation PLC on Monday said NNS UK Investment Sarl-SPF has entered into an irrevocable undertaking to vote in favour of the recommended takeover offer by newly formed acquisition vehicle Brown Bidco Ltd.
The takeover vehicle consists of US-based private equity firm Blackstone and former suitor Global Infrastructure Partners, as well as Cascade Investment LLC, a fund that manages Bill Gates s investments. The offer values Signature at USD4.73 billion, about GBP3.46 billion.
Signature, an aviation services company headquartered in London, said NNS has agreed to vote in favour of Brown Bidco s offer in respected of its 61.5 million shares - an approximately 7.4% stake in Signature s share capital and 9.2% of shares eligible to vote on the scheme at the upcoming March 18 court meeting.
Carlyle Investment Backs Away From Signature Aviation Offer
Thu, 18th Feb 2021 17:43
(Alliance News) - Carlyle Investment Management LLC on Thursday said that, after careful consideration , it does not plan to make a firm takeover offer for Signature Aviation PLC.
Earlier in February, Signature recommended an offer by newly formed acquisition vehicle Brown Bidco Ltd, which consists of US-based private equity firm Blackstone and former suitor Global Infrastructure Partners. The consortium also includes Cascade Investment LLC, a fund which manages Bill Gates s investments.
Back in January, GIP fought off interest from Blackstone, which had secured the backing of Cascade, to acquire Signature for USD4.63 billion.