Cirrus Counter-offer Put on Hold

Aviation International News » June 2011
June 1, 2011, 9:00 AM

Cirrus Counter-offer Put on Hold

An eleventh-hour attempt by aviation consultant Brian Foley to assemble investors to submit a counter-offer to the reported $210 million Chinese bid for Cirrus Aircraft has gone into a holding pattern. He had been assembling interested investors since mid-March. “We’ve since had time to follow up, and contact those on our own aerospace investor list. While we continue to identify and vet more prospective investors, the general consensus thus far is to see first whether the Chinese offer currently on the table proceeds to fruition,” Foley noted. “There is some element of doubt on this, but many believe it probably will. If it doesn’t, however, we have investors waiting to reevaluate the situation. We acknowledge our investors’ viewpoint in following this approach.”

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