Blackstone and Bill Gates’ Cascade Investment company have teamed up to bid $4.3 billion for London-based private jet servicing company Signature Aviation, besting an initial takeover offer by The Carlyle Group, according to Reuters.
Blackstone and Cascade already owns a 19 percent stake in Signature. The partnership’s planned offer was announced on Friday and came just hours after Carlyle made its original takeover offer.
Signature is the world’s largest fixed base operation network for business and general aviation travelers. The company is now in advanced talks with Blackstone and Cascade regarding the takeover deal.
