Reneral aircraft manufacturer Cirrus Industries Inc. (Duluth, Minn.) H announced on Feb. 28 that it will be acquired by China Aviation Industry General Aircraft Co. Ltd. (CAIGA, Zhuhai, China), a business unit of Aviation Industry Corp. of China, or AVIC. The terms of the deal were not disclosed. Within two weeks, however, Brian Foley, president of general aviation-related consulting firm Brian Foley Associates (BRiFO, Sparta, N.J.), claimed that he and his firm will attempt to quash the Cirrus/AVIC transaction, solicit capital support from U.S. investors and reach out to Cirrus' primary owners to see if they'd accept a serious counter-offer.
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