Reports are emerging from the United States that Textron is on the verge of signing a deal to buy Beechcraft.
Both Fox Business and the Financial Times have run stories that the owner of Bell and Cessna will pay $US1.4 billion for Beechcraft.
Since exiting Chapter 11 bankruptcy protection in February this year, Beechcraft has been owned by a consortium including Goldman Sachs and Onyx. In August they announced an order for 104 King Airs worth $US1.4 billion, an attractive proposition for potential buyers, which were thought to include Embraer and Mahindra also.
Textron recently acquired flight simulation companies Mechtronix and Opinicus, and announced the first flight of its Scorpion ISR/Strike fighter.
Textron shares jumped 14.5% to $US37.29 recently, which has been attributed to rumours of the Beechcraft deal.
It is thought an announcement could come as early as this Friday.