Former Gatwick owner joins Blackstone, Cascade for Signature Aviation bid By Reuters

(Reuters) – The former owner of London’s Gatwick Airport has joined forces with Blackstone (NYSE:BX) and Bill Gates’ Cascade to bid for Signature Aviation in an offer valuing the private jet services firm at $4.73 billion, the companies said on Friday.

The cash offer of $5.62 is to buy all of Signature’s shares other than the 19.01% owned by or controlled by Cascade and the Bill & Melinda Gates Foundation Trust.

The new offer is more than what Global Infrastructure Partners (GIP), which still manages a 49.99% stake in Gatwick, single handedly offered last month.