Commodities

Canada's Chorus Aviation receives takeover proposal

Canadian aircraft repair and overhaul services provider Chorus Aviation said on Friday it had received a non-binding acquisition proposal from a third party.

Oct 23 (Reuters) - Canadian aircraft repair and overhaul services provider Chorus Aviation CHR.TO said on Friday it had received a non-binding acquisition proposal from a third party.

Dartmouth-based Chorus, however, said there can be no assurance that any transaction will occur.

Shares of Chorus, which has a market value of about C$383 million ($292 million), rose nearly 7% before being halted.

(Reporting by Arundhati Sarkar in Bengaluru; Editing by Maju Samuel)

((Arundhati.Sarkar@thomsonreuters.com; twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776;))

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