Bristow Group’s plan to merge with Oregon-based Columbia Helicopters appears to have hit a snag. In November, Bristow announced its intention to acquire Columbia for $560 million in a cash/debt/stock deal that was expected to close by the end of 2018. One month after announcing the deal, Bristow filed a Form 8-K with the U.S. Securities and Exchange Commission in which it revealed, “The purchase agreement provides for the acquisition by the purchaser of all of the issued and outstanding shares of Columbia (the “acquisition”) on the terms and subject to the conditions set forth in the purchase agreement. Based upon current market conditions, the company no longer expects to complete the acquisition on or before December 31, 2018.”
The purchase agreement provides that either party can terminate the deal if it does not close by April 9, 2019, subject to an additional “marketing period.” If the deal fails, Bristow would owe Columbia a $20 million termination fee.
The takeover is a tad stalled......’
cheers
https://www.ainonline.com/aviation-n...ia-deal-stalls
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