Textron weighs bid for Hawker Beechcraft Inc.

PROVIDENCE – Textron Inc. is considering a bid for part or all of Hawker Beechcraft Inc., the bankrupt business-jet maker in exclusive talks with China’s Superior Aviation Beijing Co., Bloomberg News reported. More

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Textron weighs bid for Hawker Beechcraft Inc.

Posted 7/30/12

PROVIDENCE – Textron Inc. is considering a bid for part or all of Hawker Beechcraft Inc., the bankrupt business-jet maker in exclusive talks with China’s Superior Aviation Beijing Co., Bloomberg News reported.

“We have the same general view, these are assets in which we have an interest, but it would have to be at a value that we think is appropriate,” Textron CEO Scott Donnelly said on an earnings conference call with analysts last week.

Textron might bid on the whole company or just on Hawker Beechcraft’s defense business, which isn’t part of the “pretty high number” of $1.79 billion in the Superior Aviation deal being worked out, Donnelly said.

A U.S. bankruptcy judge last week agreed to allow Hawker, owned by Goldman Sachs Group Inc. and Onex Corp., to negotiate exclusively with Superior for 45 days, after which other interested parties may try to top the deal in a court-supervised auction.

Hawker unveiled a plan earlier this month to sell itself to Superior Aviation to avoid having to shut down its jet operations and to better compete in the growing Chinese market. •

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