Air Transport Services Group to be taken private by Stonepeak in $3.1 billion deal

Stonepeak will pay $22.5 per share for the company, representing a 29.3% upside to Air Transport's closing price on Friday. Reuters reported on Sunday that Stonepeak was in advanced talks to take over ATSG, whose primary business involves acquiring used passenger aircraft and converting them to freighters to lease to customers. In August, it reported an 8% fall in second-quarter revenue, driven by a reduction in its aircraft leasing as well as cargo services segments.