Status:  Upcoming/New Filing​

Acquirer:  Safran SA (France)

Acquired:  Zodiac Aerospace SA (France)

Value:  US$10.5 billion

Industry:  Aerospace

On January 19, 2017, Safran SA, and Zodiac Aeospace SA, France’s two largest aeronautic suppliers, announced an agreed public cash offer by Safran for Zodiac shares, valued at approximately US$10.5 billion.  (See Safran and Zodiac Joint Press Release, Safran and Zodiac Aerospace, a new global leader in aerospace, Jan. 19, 2017.)  According to the joint press release, the transaction would combine the number three player in aerospace propulsion and equipment (Safran) with the number two player in aircraft equipment, such as seats, cabin interiors, power distribution, lighting, fuel, oxygen and fluid systems and safety equipment (Zodiac). The parties prepared a presentation on the combination in which they expect the merger to be completed by 2018, subject to clearance by the Committee on Foreign Investment in the United States (CFIUS) among other regulatory requirements.  (See Safran+Zodiac Aerospace Project: Creating a New Global Leader in Aerospace, Slide 6, Form 425, Feb. 1, 2017, SEC Filing.)