Deals
Bombardier, Textron Jump on Report of Private-Jet Deal Talks
- Discussions underway for weeks, Wall Street Journal says
- Canadian company under pressure to sell assets to repay debt
A Bombardier Global 7500 luxury jet.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Bombardier Inc. jumped on a Wall Street Journal report that the Canadian maker of planes and trains is in talks to sell its private-jet unit to Textron Inc., which makes Cessna planes. Textron also surged on speculation that a deal would bolster its luxury-aircraft business.
The negotiations have been going on for several weeks, and the terms of the potential transaction are unclear, the Journal reported Tuesday, citing people familiar with the matter. There’s no guarantee that the discussions will result in any agreement, the newspaper said.