All good things come in fours
It was the fourth offer of the Kuwaiti company Agility that finally led to the breakthrough. Among the biggest providers of fuelling, ground handling and maintenance services, operating in around 37 countries globally, London-listed John Menzies has now approved the takeover proposal from Agility subsidiary National Aviation Services (NAS). The total value of the deal now stands at approximately GBP 560 million (EUR 672 million).
In a press release Menzies said that "the board has considered the final proposal and indicated to NAS that it would be willing unanimously to recommend an offer at the financial terms of the final proposal to Menzies shareholders subject to the satisfactory resolution of all the other terms of the offer. The deal is still subject to regulatory approval." (cd)