Agility’s cash offer backed by UK-based John Menzies
Kuwait-based supply chain company Agility said citing UK-based aviation services provider John Menzies, that the shareholders of the British company have voted to support Agility’s cash offer of 608 pence a share.
Agility is in the process of acquiring John Menzies for 571 million pounds ($751 million).
The deal is still subject to the approval of the regulatory authorities and is expected to close in Q3 of 2022, Agility said in the statement.
Under the new deal, the London Stock Exchange-listed Menzies will be combined with National Aviation Services, a unit of Kuwait’s Agility Public Warehousing Co. Agility currently holds a 19 percent stake in Menzies.