Locke Lord Strategies represents China’s Superior Aviation Beijing Co. as its $1.7B takeover offer for bankrupt Hawker Beechcraft of Wichita collapsed yesterday due to a combination of pricing and rising political tension between the U.S. and China.
HB markets turboprops, business jets and a line of military training and attack aircraft sold to the U.S. Defense Dept. and other foreign governments.
With the exit of Superior--40 percent owned by the municipal government of Beijing--FTI Consulting is promoting HB’s Plan B.
That calls for rebranding as Beechcraft Corp. (turboprops, piston and military aircraft) and selling/closing its jet operation.
LLS is home of Harriet Miers, who was President George W. Bush’s counsel and his choice for a Supreme Court seat.
It put Phillip Rivers, who was ex-chief of staff to Sen. Richard Shelby (R-Ala.); Mark Siegel, former COS to Rep. Steve Israel (D-NY); Shane Doucet, legislative aide to ex-Congressman Chris John (D-LA), and Walt Smith, staffer to former Representative Henry Bonilla (R-TX), on the HB deal.
Superior paid HB a $50M non-refundable deposit under the terms of the proposed takeover transaction.