JOHN Menzies Kuwaiti suitor has secured a 19 per cent stake in the Edinburgh business after buying a further 5.3 million shares.
National Aviation Services, which operates across the Middle East, Africa and South Asia, moved to secure the stake at a price of 605p-per-share.
It comes after Agility Strategies Holding Limited, acting in concert with NAS, had entered into contracts to purchase 12.1 million shares, making it the largest shareholder in the business, on Thursday.
UK regulations dictate that any offer would have to be at 605p, which would represent a premium of 109% to Menzies' closing share price of 290p on February 2, when it made a second proposal to the board of Menzies, at 510p.
Menzies, which began its business in 1833 as a bookseller, has 27,000 staff, and operates airport services in 200 airports in 34 countries.
Menzies shares closed down 1p at 583p on Friday.
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