Irish aircraft leasing firm Avalon announced that it is considering a $2.55bn (2.33bn) offer by Chinese rival Bohai Leasing.
Bohai Leasing offered to acquire 100% of the issued and outstanding common shares of Avolon at a price of US$31 per share.
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At this share price, Avolon is valued at around $2.55bn, nearly 1bn higher than its value when it entered the New York Stock Exchange seven months ago. Avolon’s shares were priced at $20 per share in an initial public offering in December.
Earlier this month, Bohai Leasing offered to buy 20% stake in Avolon for $429m, paying $26 per share.
"Avolon’s Board of Directors has not accepted or rejected either offer and continues to carefully evaluate these offers with its financial and legal advisors and has authorized its financial advisors to continue negotiations with both offerors regarding their respective offers," wrote Avolon.
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