Shares of Textron stock are spiking this morning on a report from a Kuwaiti newspaper that a consortium of Middle Eastern companies are close to a deal to buy Cessna Aircraft’s parent company, Bloomberg News and Reuters reports this morning.
Textron stock is up 54 percent in mid-morning trading to $14.07 a share.
The Kuwaiti newspaper Al-Watan did not site its sources but said a United Arab Emirates-Kuwait consortium was close to securing a deal and has offered $21 a share. It did not identify the firms.
