Feb 21, 2022
Menzies Aviation faces £560m takeover by Kuwaiti rival
Menzies Aviation, one of Scotland's largest firms, is likely to be taken over by a Kuwait-based rival. The Edinburgh-based ground services company, formerly bookseller John Menzies, works in 37 countries. NAS has expanded across emerging markets in recent years and now owns a 19% stake in Menzies Aviation after purchasing millions of pounds worth of shares in the past month. Its final offer of 608p per share follows previous bids of 460p, 510p and 605p."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," the board said in a statement. Menzies Avaition has 25,000 employees in 37 countries, providing passenger, baggage and aircraft handling services.
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