PROVIDENCE – Textron Inc. is engaged in talks with Bombardier Inc. to purchase its business-jets division, the Wall Street Journal reported on Tuesday.
A completed deal is not certain but the companies have been reportedly engaged in talks for “several weeks.”
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The report noted that Bombardier, headquartered in Montreal, Canada, has engaged in talks to sell at least one of its core divisions (both its jet and train units) simultaneously, as part of efforts to trim its debt load, ahead of large, looming debt payments due next year. The company was said to have $9 billion in debt, with $1.5 billion of debt due in the coming year.
