Bristow's deal for Columbia Helicopters opposed by activist investor

|About: Bristow Group Inc. (BRS)|By:, SA News Editor

Bristow (BRS -3.4%) is lower after activist investor Global Value Investment comes out against the proposed financing of the company's planned acquisition of Columbia Helicopters.

Under the proposed financing, Global Value estimates that 33M-33.5M BRS shares would be issued in order to consummate the acquisition, representing a 93% dilution.

Global Value believes BRS trades at a steep discount to the company's intrinsic value and that several strategic alternatives exist to unlock shareholder value.

Subscribe for full text news in your inbox