 |
|
|
|
|
| Arabian Consortium Bids to Acquire Textron Cessna and Bell Helicopter Involved | May '09 |
|
|
| |
According to Wall Street Journal, a group of United Arab Emirates companies are looking to buy Textron, Inc. That acquisition would involve major names in aviation, including Cessna Aircraft Company, Bell Helicopter and Textron Systems, which is comprised of six business segments that supply products for the defense and aerospace industries.
Textron owns other companies such as Jacobsen Mowers, Greenlee (a telecommunications company), KIautex (manufacturer of plastic fuel systems) and E-Z GO golf carts.
The Kuwaiti newspaper Al-Watan quotes that the consortium, "is valuing the U.S. aircraft manufacturer and defense contractor at more than $5 billion."
According to Al-Watan, unidentified sources say the UAE group is offering $21 a share for Textron. Shares have been treading up and down awaiting more information. Recently, shares on the New York Stock Exchange (NYSE: TXT) have ranged in price from $13.56 to $9.11 each.
The Arabian newspaper also reported that the consortium plans to sell the defense operations segment of the business, but would keep Textron's civil manufacturing operations (including Cessna) if it takes ownership.
Back to Page 1
|
|
|
|
|
