By Millie Turner, cityam.com
The Blackstone Group has the support of a big-name backer – Bill Gates- the largest shareholder in Signature Aviation, strengthening the firms bid to buy the private-jet servicing company.
The support comes in opposition to rival bidder Carlyle and strengthens Blackstone’s $4.29bn (£3.16bn) offer alongside Gates’ Cascade Investment.
Blackstone and Cascade, which own a near 20 per cent stake in the London-based aviation company formerly known as BBA Aviation, are in late-stage talks regarding a cash offer proposal of £3.81 per share.
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