July 17, 2019 / 7:01 AM / a month ago

Aerospace firm Latecoere appoints advisor to examine Searchlight's bid

PARIS (Reuters) - Latecoere (LAEP.PA) said it had appointed financial advisory company Finexsi to study a 365 million euro ($409 million) takeover offer for the French aerospace company from Searchlight Capital.

Searchlight, which already owns 26% of Latecoere’s share capital, made an offer of 3.85 euros per share for Latecoere in late June, in the latest example of activist funds targeting companies which they feel are underperforming.

Founded by Pierre-Georges Latecoere in 1917, the company is a partner to Boeing (BA.N), Airbus (AIR.PA) and Dassault Aviation (AVMD.PA).

Reporting by Sudip Kar-Gupta; editing by Jason Neely

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