The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
UK airport ground-handling specialist John Menzies Plc accepted a $750 million takeover bid from Kuwaiti suitor Agility Public Warehousing Co that had been sweetened for a third time.
The Menzies board backed the offer of 608 pence a share in cash after Agility subsidiary GIL International issued a formal proposal, the companies said. The bidding had started with an approach at 460 pence. Menzies stock was priced just below 500 pence in early 2020, before the Covid-19 pandemic dealt a blow to aviation and demand for support services.