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The first Boeing 787 Dreamliner sits on the assembly line at the company's Everett plant in Washington in this May 19, 2008 file photo. REUTERS/Robert Sorbo/Files

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Defense budgets are not declining as sharply as some had feared, but companies are scrambling to ensure continued earnings growth. Get exclusive insight into the defense sector from the Reuters Aerospace and Defense Summit.  Full Coverage 

    Blackstone hires bank for possible FKI bid-paper

    LONDON
    Sun Mar 9, 2008 10:45am EDT

    Stocks

       

    LONDON (Reuters) - U.S. private equity group Blackstone (BX.N), which last year walked away from bid talks with FKI FKI.L, has hired bankers to examine making a counter bid for the engineering group, the Sunday Telegraph reported.

    Stocks  |  Mergers & Acquisitions  |  Private Capital

    Blackstone has recruited Credit Suisse to evaluate an offer for FKI after rival bidder Melrose Plc (NYN.L) raised its cash-and-shares bid proposal to 500 million pounds ($1 billion), worth some 82.1 pence a FKI share, which came after a 70p initial approach from Melrose in early February.

    FKI and Blackstone were not immediately available to comment.
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    Mergers & Acquisitions
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