Safran SA (SAF.PA)
26 May 2017
LONDON UK hedge fund TCI said aero engine maker Safran's reduced offer for Zodiac Aerospace was still too high and it would vote against the deal.
LONDON, May 26 UK hedge fund TCI said aero engine maker Safran's reduced offer for Zodiac Aerospace was still too high and it would vote against the deal.
LONDON, May 25 European shares clung on to gains in early deals on Thursday helped by firmer banking shares and as corporate deals activity, after French aero firms Safran and Zodiac finally striking a deal, continued apace.
PARIS Zodiac Aerospace's board has accepted a 15 percent cut in a takeover offer from aero engine maker Safran to create the world's third largest aerospace supplier after a string of profit warnings from the aircraft seat maker.
* Most Zodiac family investors to lose special tax status (Adds details, background, quote)
PARIS, May 24 France's Safran is cutting its core cash offer for Zodiac Aerospace by 15 percent to 25 euros per share as part of a restructured proposal to buy the aircraft seats maker, whose shares have been hit by recent profit warnings.
* Glencore dips, makes approach to Bunge (Adds quotes and detail, updates prices)
LONDON, May 24 European shares, stuck just below 21-month highs for more than a week, fought for direction in early deals on Wednesday as weakness in mining and autos sectors were offset by strength in oil producers.
LONDON/PARIS Activist investor TCI Fund Management has called on the board of French aerospace firm Safran to cancel a takeover of Zodiac Aerospace immediately and instead focus on fixing design problems with a new engine.
* Founder Chris Hohn wants deal scrapped 'immediately' (Adds detail from letter, background, bullet points)