Reported 21 days ago
Investment firm Stonepeak is set to take Air Transport Services Group (ATSG) private in a $3.1 billion deal, offering $22.5 per share, which marks a 29.3% premium over ATSG's last closing price. Following the announcement, ATSG's shares surged 27%. The acquisition is expected to finalize in the first half of next year, and Stonepeak has secured both equity and debt financing for the transaction. ATSG, which specializes in converting used passenger planes into freighters, is seeing renewed interest in its operations despite a recent decline in revenue.
Source: YAHOO