US planemaker Beechcraft Corp had been eyed by at least three suitors for a takeover, according to sources who told Bloomberg. The sources also disclosed that two of the suitors were Brazilian aerospace company Embraer SA and Indian automobile maker Mahindra & Mahindra Ltd. Textron Inc, a parent of Cessna Aircraft Company, was also reportedly interested. The sources refused to be identified as the process was still private.
One of the sources also added that the first-round bidding had been wrapped up. The source said Beechcraft's management had been scheduling talks with its potential buyers. However, the sources were not clear as to who the potential buyers were.
After buyout talks with a Chinese jetmaker broke down last year, Beechcraft had resumed to look for a buyer. The company sale could be valued at USD1.5 billion, said a source last week who was knowledgeable about the process.
90% of Beechcraft is currently owned by private equity firms including Sankaty Advisors LLC, Centerbridge Partners LP and Angelo Gordon & Co.
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