Safran to Buy Zodiac for $10 Billion in All-French Aero Deal

Aircraft-engine maker Safran SA agreed to buy plane-seat supplier Zodiac Aerospace SA for almost 10 billion euros ($10.5 billion) in an all-French deal that will unite two of the country’s biggest aerospace groups. Safran will offer 29.47 euros per share in cash, 26 percent above Wednesday’s close, the companies said Thursday. If half of Zodiac’s equity is tendered, Safran will complete the purchase via a share swap, paying stock that was worth 29.96 euros Wednesday for each remaining Zodiac share, excluding a special dividend to be paid to Safran investors before the deal closes.