Proposal from Kuwaiti suitor values airport services group at £560mn

Edinburgh-based John Menzies has accepted a sweetened takeover proposal from its Kuwaiti suitor that values the airport services company at about £560mn.

The bid, which is yet to be formalised, would be a significant premium over NAS’s previous offers of 460p and 510p per share.

John Menzies shares were flat at 584p after surging 25 per cent last Thursday when NAS began to build a 19 per cent stake in the company, paying 605p a share, making it the largest shareholder and prompting investors to bet on a new bid.

Read more: Financial Times