Signature Aviation plc (LSE:SIG) confirmed on January 8, 2021 that it has received a takeover proposal led by Carlyle Group Inc. (NasdaqGS:CG) in what would be a counterbid to last year's approach from The Blackstone Group Inc. (NYSE:BX) that has now secured the backing of the private jet servicing group's largest shareholder. This comes after Blackstone separately said on January 8, 2021 that it has secured the backing of Cascade Investment, L.L.C. for a joint bid for the group that would value it at $5.17 a share or more than £3 billion. Signature was formerly known as BBA Aviation and rejected a bid in December 2020 from Global Infrastructure Partners.

GIP and Blackstone now have until 5 p.m. U.K. time on January 14, 2021 to announce a firm bid or walk away. Carlyle has until February 4, 2021. Under its agreement with Blackstone, Cascade will not support any rival bid.