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Textron says purported $14 bln Xcalibur bid is "fictitious"

Nov 9 (Reuters) - Textron Inc said on Monday a purported takeover offer from Xcalibur Aerospace Ltd that valued the Cessna business jet maker at nearly $14 billion was “fictitious” and in violation of the U.S. securities laws.

The home page of Xcalibur’s corporate website refers to a $60.50 per share ‘Textron tender offer’, which represented a premium of about 56% to the U.S. company’s closing price on Friday.

The website directs to a page that asks visitors to send Xcalibur an email to obtain the ‘term sheet’ for the bid.

“We urge investors to carefully scrutinize any communications from the purported offeror and to rely only on tender offer materials, if any, that are properly filed with the U.S. Securities and Exchange Commission,” Textron said in a statement.

Textron said in the past two years, it has received indications of interest from Xcalibur, but it has always been unable to provide details of its financial wherewithal.

Textron said it has informed the relevant authorities of the latest “fictitious” offer. (Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur)

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