Deals
Gates Backs Blackstone’s $4.3 Billion Bid for Jet-Base Operator
- Carlyle, GIP also weighing offers for Signature Aviation
- Private-jet base operator has thrived during Covid-19 pandemic
This article is for subscribers only.
Bill Gates joined the battle for Signature Aviation Plc, allying with Blackstone Group Inc. in a $4.3 billion approach for the world’s biggest operator of private jet bases.
Gates’s Cascade Investment LLC, the biggest shareholder in Signature Aviation, and Blackstone are in advanced discussions with the London-based firm on a cash offer of $5.17 per share, they said Friday in a statement. Signature had said in December it would accept a bid from Blackstone if a firm proposal were made at that level.