Zodiac drops nearly 6% after Safran's no
Summoned by the stock market authorities to clarify its intentions vis-à-vis Zodiac Aerospace, the aeronautical equipment manufacturer gives up launching a takeover bid on its competitor, failing to have been able to obtain the agreement of its target.
The share of the Zodiac Aerospace group fell 6% on Friday, November 19 on the Paris Stock Exchange, while the aeronautical equipment manufacturer Safran gave up on launching a takeover bid on its competitor, the conditions for a friendly rapprochement between the two aeronautical equipment manufacturers not being combined. At 11 a.m. (10 a.m. GMT), the Zodiac share posted the biggest drop in the SBF 120 (-5.94% to 48.78 euros) while Safran gained 4.88% to 23.74 euros, in a market in slight decrease (-0.09%).
The Autorité des marchés financiers (AMF) had asked the aeronautical equipment manufacturer the day before to clarify its intentions on Zodiac by Friday before the opening of the stock market, in reaction to a statement by Jean-Paul Herteman, chairman of the group , according to whom a hostile offer on Zodiac was a "possibility".
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