“General Electric Co. (GE) is in talks to acquire Italian defense company Avio SpA from buyout firm Cinven Ltd., which rejected a previous offer from two private-equity funds, according to people with direct knowledge of the talks.
CVC Capital Partners Ltd. and Clessidra SGR SpA don’t plan to revise their offer of about 3 billion euros ($3.9 billion) for Avio, said the people, who declined to be identified because the discussions are private, leaving GE to pursue the acquisition. Cinven is also considering holding an initial public offering of Avio next year, the people said.”
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