financetom
Business
financetom
/
Business
/
Safran wins EU antitrust approval for $1.8 billion Collins deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Safran wins EU antitrust approval for $1.8 billion Collins deal
Apr 4, 2025 8:19 AM

BRUSSELS (Reuters) - French engine and aircraft equipment maker Safran on Friday secured the green light from EU antitrust regulators for its $1.8 billion bid for Collins Aerospace's flight controls business after pledging to sell a North American actuator business.

Safran announced the deal in 2023, its largest since its 2018 acquisition of seat maker Zodiac seven years ago, to help it better prepare for the next generation of increasingly computerised aircraft and expand its portfolio to supply civil and defence plane makers.

The European Commission said Safran's offer to divest a business addresses worries that the deal would have reduced competition in the markets for the supply of trimmable horizontal stabiliser actuator systems (THSA) and also lead to higher prices.

"To address the Commission's competition concerns, Safran offered to divest the entirety of its North American THSA business, which includes sites in Canada and in the United States, as well as assets in Mexico," the EU competition enforcer said in a statement.

The Commission will separately review potential buyer Woodward which reached a deal to buy the business from Safran last December.

Reuters was the first to report on imminent EU approval for the Collins deal. Collins is part of RTX Corp. ( RTX )

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tesla Shares Jump as Possible Deregulation on Autonomous Vehicles Seen as Bullish for EV Maker, RBC Says
Tesla Shares Jump as Possible Deregulation on Autonomous Vehicles Seen as Bullish for EV Maker, RBC Says
Nov 19, 2024
01:24 PM EST, 11/18/2024 (MT Newswires) -- Shares of Tesla (TSLA) climbed intraday Monday amid reports that the incoming Trump administration may be considering a federal framework for autonomous vehicles in a move that RBC Capital Markets said could benefit the electric vehicle maker's robotaxi plan. The new administration could make it easier for companies to more widely deploy cars...
What's Going On With Advanced Micro Devices Stock Monday?
What's Going On With Advanced Micro Devices Stock Monday?
Nov 19, 2024
Advanced Micro Devices, Inc. ( AMD ) shares are trading higher Monday after the company and International Business Machines Corporation ( IBM ) announced plans to deploy AMD instinct MI300X accelerators on the IBM ( IBM ) cloud. The Details: The MI300X accelerators, expected to be released in the first half of 2025, aim to enhance performance and power efficiency...
FCA says ex-Barclays CEO Staley misled it over Epstein contacts during probe
FCA says ex-Barclays CEO Staley misled it over Epstein contacts during probe
Nov 19, 2024
LONDON (Reuters) - Ex-Barclays CEO Jes Staley gave misleading answers to Britain's Financial Conduct Authority about his dealings with Jeffrey Epstein when it was investigating his relationship with the disgraced financier, the FCA's lawyers alleged on Monday. The FCA said in October 2023 that it intended to ban Staley from senior roles and fine him 1.8 million pounds ($2.27 million)...
BRIEF-Benjamin Securities Inc. And D. Boral Capital LLC Are Now Underwriters Of Masonglory's IPO
BRIEF-Benjamin Securities Inc. And D. Boral Capital LLC Are Now Underwriters Of Masonglory's IPO
Nov 19, 2024
Nov 18 (Reuters) - Masonglory Ltd: * MASONGLORY LTD: BENJAMIN SECURITIES, INC. AND D. BORAL CAPITAL LLC ARE NOW UNDERWRITERS OF U.S. IPO Source text: Further company coverage: ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved