Report: Raytheon Aircraft May Sell For $3 Billion
An offer to buy Raytheon Aircraft Company may reach $3 billion, Bloomberg reported on Monday. Citing an unnamed source "with knowledge of the agreement," Bloomberg said Onex Corp., a buyout firm based in Toronto, and Goldman Sachs Group would each acquire stakes of under 50 percent in the company, with the rest being held by the current management team. The deal is expected to be publicly announced by the end of the month. Raytheon Aircraft, based in Wichita, Kan., manufactures the Beechcraft Bonanza G36, Baron G58, King Air series and Premier IA and Hawker 400XP, 850XP and 4000, as well as the T-6A/B military trainer. "Onex sees the potential for this aircraft business to do well in a fairly strong market for general aviation,'' said Paul Nisbet, an analyst at JSA Research in Newport, R.I.