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A takeover bid for Consorcio Aeromexico, for at least 51% and possibly as much as 100% of the shares of Aeromexico, has been submitted by Grupo Mexicana.
The offer represents a purchase price of MXN2.19 per share, which translates into MXN2.17bn for the entire Aeromexico share package, and makes Grupo Mexicana's offer 25% higher than the next highest offer.
Mexicana stated that it is prepared to accept the recommendations of the Federal Competition Commission to ensure the viability of the transaction, which will result in a USD200m capital injection for the group if the deal is successfully closed.
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