John Menzies, a Scottish firm that provides ground, air cargo and fuelling services at airports, has rejected a £469m takeover approach from a Kuwait rival, sending its shares soaring.
The Edinburgh-based firm said its board had unanimously rebuffed a “preliminary and unsolicited proposal” from National Aviation Services, a subsidiary of the Kuwait-based Agility Public Warehousing, at a price of 510p a share in cash. It came after Menzies knocked back an earlier offer at 460p a share.
