HALISTER: Safran Cuts Offer for Zodiac to EU25 a Share; Buyback Planned

Safran Cuts Offer for Zodiac to EU25 a Share; Buyback Planned

(Bloomberg) -- Safran says primary cash offer for Zodiac of EU25/share unanimously approved by both boards.
  • Safran to offer option of payment in Safran preferred shares capped at 31.4% of Zodiac shares
    • Safran would offer 0.3 to 0.332 Safran preferred share per Zodiac share
  • Safran confirms annual pretax cost savings of EU200m from combination
  • Safran plans EU2.3b share buyback over the 2 years following completion of tender offer for Zodiac.
  • Link to statement

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
SAF FP (Safran SA)

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