A group of private U.S. investors led by aviation market analyst Brian Foley now appears unlikely to submit a formal counter bid for the assets of Cirrus Design prior to its sale to Chinese interests.
“The initial investor response was swift and encouraging,” Foley said in a statement to the press. “We’ve since had time to follow up, and even contact those on our own aerospace investor list. While we continue to identify and vet more prospective investors, the general consensus thus far is to see first whether the Chinese offer currently on the table proceeds to fruition. There is some element of doubt on this, but many believe it probably will. If it doesn’t, however, we have investors waiting to re-evaluate the situation. We acknowledge our investors’ viewpoint in following this approach.”
