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BUZZ-BBA Aviation: bottom of the Stoxx despite announcing 'transformative' deal

** BBA Aviation (LSE: BBA.L - news) falls as much as 10.6 pct after announcing a £748 mln rights issue to fund its acquisition of Landmark Aviation

** Stock recovers to trade down 4.9 pct but still top faller on Stoxx 600 in robust volume

** Worst day for the stock since September 2011, touching a 2.5 yr low

** Takeover of Landmark at a total offer price of $2.07 bln would double company's total market cap

** Liberum says deal is "transformative", but notes its size requires BBA to pay a full multiple and stretch its own balance sheet

** Leverage to rise to around 3.5x in 2015, but will reduce to 2.25x by the end of 2017, according to the company's estimates

(RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)