Air Transport Services Group (ATSG) is in advanced talks to be acquired by Stonepeak for around $3.1 billion, Reuters reported Sunday, citing unnamed sources familiar with the matter.
Sources told Reuters that Stonepeak is expected to pay $22.50 per Air Transport Services Group share in a deal that could be announced as soon as Monday.
Stonepeak and Air Transport Services Group did not immediately respond to MT Newswires' request for comments.
Shares of Air Transport Services gained more than 20% pre-bell Monday.
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