PARIS (Agefi-Dow Jones)–The engine and aeronautical equipment manufacturer Safran confirmed on Monday that it is in discussions about the acquisition of certain flight control and actuation activities of the American aeronautics and defense group Raytheon Technologies, through a competitive process.
“At this stage, it is not possible to assess the possibility of the outcome of these discussions or to specify the terms of a possible agreement,” said Safran in a press release.
“If necessary, precise information on the elements of a possible transaction would be communicated in good time”, added the group.
Prior to the announcement, Bloomberg reported on Monday that such talks were underway and discussed a deal of up to $1 billion (about 933 million euros), which would be Safran’s biggest acquisition in six years.
In Paris, the Safran share lost 1.3% on Monday, to 137.24 euros. For its part, the CAC 40 fell by 1%.
-Vincent Alsuar, Agefi-Dow Jones +33 (0)1 41 27 47 39; [email protected] ed: LBO
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June 05, 2023 12:27 ET (16:27 GMT)