XCalibur Says They Want Textron For $60.50 Per Share

We saw an interesting news item this morning concerning a potential takeover bid for Textron... home of Cessna, Beech, Bell and other aviation icons.

But... the bid apparently, isn't all that it might be -- especially when you consider the fact that the price per share was overtly generous. 

Textron, however, is NOT impressed.

Monday morning, they put of public statements, noting that, "Textron Inc. today responded to a purported tender offer by XCalibur Aerospace Ltd. to acquire Textron’s common stock.

Textron believes that the purported tender offer is fictitious and is being made in violation of U.S. securities laws, including relevant filing and disclosure requirements. Textron further notes that in the past two years Textron has received other purported indications of interest from XCalibur, and each time XCalibur has been unable to provide details of its financial wherewithal. As it has done previously, Textron has informed relevant authorities of this most recent fictitious offer."

Textron urged investors to carefully scrutinize any communications from the purported offer and to rely only on tender offer materials, if any, that are properly filed with the U.S. Securities and Exchange Commission.

Further; they also stated that, "Unless and until a valid tender offer is made, Textron does not expect to comment further regarding the actions of the purported offer."

XCalibur has reportedly been claiming an interest in purchasing Textron for at least two years.

FMI: www.textron.com