Hudson General Now Has 4 Takeover Offers

Airport services provider Hudson General Corp. said it received two more takeover offers, bringing the total to four and sending its stock soaring. The latest bids came from GlobeGround, a unit of German airline Lufthansa, and from New York-based Ogden Corp. GlobeGround offered $116.9 million, or $67 a share, in cash, while Ogden bid $113.4 million, or $65 a share, payable either in cash or Ogden shares. Lufthansa already owns 49% of Hudson General’s aviation services unit. The bids started landing after a management-led buyout group offered $57.25 a share. The group, led by Hudson Chairman and Chief Executive Jay Langner and Vice Chairman Richard Segal, raised the offer to $61 a share. Hudson also received a bid from Ranger Aerospace Corp. of $62 cash a share. A special committee of Hudson’s board has authorized the company to negotiate with GlobeGround and Ogden. News of the new bids sent shares in Great Neck, N.Y.-based Hudson up $5.50 to close at $68 on the American Stock Exchange.