LONDON—Industrial aviation services provider Bristow Group has abandoned its proposed takeover of Columbia Helicopters as Bristow struggles with financial issues. Bristow announced in November 2018 it had entered negotiations to buy the utility helicopter operator for $560 million, but in announcing its financial results for its fiscal 2019 third quarter Feb. 11, Bristow’s management said they had uncovered “material weakness” in Bristow’s internal controls ...

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