| Previous close | 85.51 |
| Open | 85.66 |
| Bid | 60.98 x 200 |
| Ask | 61.50 x 17100 |
| Day's range | 85.58 - 86.38 |
| 52-week range | 59.42 - 87.37 |
| Volume | 980,212 |
| Avg. volume | 811,275 |
| Market cap | 35.89B |
| Beta | 0.64 |
| PE ratio (TTM) | 10.60 |
| EPS (TTM) | 8.15 |
| Earnings date | N/A |
| Forward Dividend & Yield | 1.85 (1.90%) |
| Ex-dividend date | 2017-06-19 |
| 1y target est | 81.95 |
Ross McInnes is the chairman of the board for aircraft engineering company Safran SA.
Dassault Aviation (AVMD.PA) Chief Executive Eric Trappier said he wants to hear how aerospace group Safran SA (SAF.PA) will tackle engine development issues that have delayed the French planemaker's latest business jet before considering alternative suppliers. "For the moment we are waiting to see whether Safran are able to tell us how they will try to minimize the impact,” he told Reuters. Dassault is keeping its options open for the new long-range Falcon 5X business jet, Trappier said on the sidelines of a company event in Las Vegas during the National Business Aviation Association's (NBAA) flagship gathering this week.
Dassault Aviation (AVMD.PA) Chief Executive Eric Trappier said he wants to hear how aerospace group Safran SA (SAF.PA) will tackle engine development issues that have delayed the French planemaker's latest business jet before considering alternative suppliers. "For the moment we are waiting to see whether Safran are able to tell us how they will try to minimize the impact,” he told Reuters. Dassault is keeping its options open for the new long-range Falcon 5X business jet, Trappier said on the sidelines of a company event in Las Vegas during the National Business Aviation Association's (NBAA) flagship gathering this week.
Shares in Dassault Aviation (AVMD.PA) were down 3.5 percent in early trade on Tuesday after the company's chief executive told a U.S conference the Falcon 5X business jet's entry into service would be delayed. Dassault Aviation shares were down 3.5 percent in early session trading, the worst performer on France's SBF-120 index. CEO Eric Trappier said aerospace group Safran (SAF.PA) had informed Dassault of certain manufacturing issues regarding a high pressure compressor.
French aero engine maker Safran (SAF.PA) unveiled a new engine prototype on Tuesday that would radically cut fuel consumption, potentially reshaping air travel from 2030. The Open Rotor engine, which places previously hiddenwhirring parts on the outside to capture more air, was developedwith European Union backing and is being tested in speciallybuilt facilities at a French military base near Marseille. Clara de la Torre, a top European Union research official, said the new type of engine could help airlines cut air fares because it requires less fuel.
TOULON/PARIS, Sept 5 (Reuters) - Safran (LSE: 0IU8.L - news) would look at any assets that might come up for sale as a result of United (Shenzhen: 000925.SZ - news) Technologies' planned $23 billion takeover of Rockwell Collins (NYSE: COL - news) , the French company's chief executive said. "We will see, we will take a look, but it is much too early to move forward in this area," Safran's Philippe Petitcolin said on Tuesday on the sidelines of a defence conference. Engines and parts maker United Technologies reached a deal to create a new aerospace giant on Monday by buying avionics maker Rockwell Collins.
Airbus turned up the heat on engine maker Pratt & Whitney over delays that have disrupted its biggest production line, after reporting a sharp drop in mid-year profits on Thursday. Airbus's shares fell as much as 4.6 percent as investors contrasted its fortunes with those of U.S. arch-rival Boeing (NYSE: BA - news) , whose stock hit a record high on Wednesday after its quarterly profit and cashflow beat estimates. Airbus Chief Executive Tom Enders challenged Pratt & Whitney, whose fuel-saving Geared Turbofan (GTF) engine is tied to thousands of orders for small A320neo jetliners, to "work harder" to fix delays and reliability problems.
Dassault Aviation (LSE: 0IAX.L - news) , the French maker of Falcon private jets and Rafale warplanes, said on Wednesday the business jet market remained weak, with high stocks of unsold aircraft hampering a tentative recovery in benchmark second-hand trading. "The recovery is uncertain," Chief Executive Eric Trappier told a news conference. Operating income dipped 2 million euros to 123 million, implying weaker first-half operating margins.
Airbus said it was on track to meet a target of 10 A350 deliveries a month by the end of 2018 as it hit a milestone of 100 deliveries since Europe's newest wide-body jet came into service, but doubts remained over its A320neo plans. Airbus Chief Operating Officer and President of Commercial Aircraft Fabrice Bregier reaffirmed the A350 target after delivering a A350-900 jetliner to China Airlines.
Europe aims to develop a low-cost, reusable rocket engine for use after 2030 under a deal between Airbus Safran Launchers and the European Space Agency (ESA). Airbus Safran said it would use new manufacturing techniques, including the use of 3D printers, to keep the engine's cost down to around 1 million euros ($1.1 million). "The commercial market - at least the European one - is asking for reliability, on-time delivery and cost, and we have to find the best way to answer these market expectations," its CEO, Alain Charmeau, told Reuters.
UK hedge fund TCI said aero engine maker Safran's reduced offer for Zodiac Aerospace was still too high and it would vote against the deal. Zodiac accepted on Wednesday a 15 percent cut in an offer from ...
LONDON/PARIS, May 12 (Reuters) - Activist investor TCI Fund Management has called on the board of French aerospace firm Safran (LSE: 0IU8.L - news) to cancel a takeover of Zodiac Aerospace (LSE: 0NR6.L - news) immediately and instead focus on fixing design problems with a new engine. The move is the latest attempt by TCI to stop Safran's $9 billion deal with struggling Zodiac, which the British hedge fund considered too expensive even before the latest profit warning from the maker of aircraft seats. In a letter to the Safran board dated May 12, TCI said instead of pursuing the takeover, which would take up a lot of management time and focus, it should instead look to fix a problem with its new LEAP engine.
Zodiac Aerospace (LSE: 0NR6.L - news) 's chief executive has offered his resignation after another profit warning from the French company, which is continuing talks with Safran to seal a merger and end a crisis in its aircraft seat factories. Zodiac said on Friday it had asked Olivier Zarrouati to stay on "for a while" to try to forge the world's third-largest aerospace supplier, but added it was working on an alternative standalone plan in case the Safran merger fell through. The firms announced a deal for Safran to take control in January, but it ran into criticism over its complex structure, crafted to preserve tax breaks for a group of family shareholders, and new problems at Zodiac's UK plants.
Activist hedge fund TCI Fund Management on Monday called on Safran to set up an ad-hoc independent directors' committee to review the company's valuation of Zodiac Aerospace, according to a letter seen ...
The U.S. Justice Department said on Thursday it will require Smiths Group Plc (Frankfurt: QS2A.F - news) to divest Morpho Detection LLC and Morpho Detection International LLC's global explosive trace detection business for Smiths to proceed with its proposed $710 million acquisition of Morpho from Safran SA (LSE: 0IU8.L - news) . The Justice Department’s Antitrust Division filed a civil antitrust lawsuit Thursday in the U.S. District Court for the District of Columbia to block the proposed transaction, the department said in a statement.
Pressure on France's Safran (Milan: SAF.MI - news) to rethink its proposed $9 billion takeover of Zodiac Aerospace intensified on Wednesday as a profit warning sent the target's shares tumbling and hedge fund TCI called for Safran's chairman to be ousted unless it abandons the deal. Zodiac shares were down 16 percent at 23.07 euros by 1259 GMT, well below Safran's offer price of 29.47 euros. Paris-based Zodiac disclosed new cost overruns and slashed its earnings guidance late on March 14, with the manufacturer of aircraft interiors saying it expects annual core operating income to fall by about 10 percent, against a previous forecast of a 10-20 percent increase.
Hedge fund TCI called on Wednesday for the chairman of Safran (LSE: 0IU8.L - news) to be removed from his position unless he cancelled Safran's planned takeover of struggling peer Zodiac Aerospace (LSE: 0NR6.L - news) . "If you do not cancel the deal it will be clear evidence that you are not competent to continue as chairman of Safran, so we will call on Safran shareholders to remove you from the board at the AGM in June," TCI wrote in a letter addressed to Safran (Milan: SAF.MI - news) chairman Ross McInnes. Officials at Safran were not immediately available to comment on TCI's letter, which was released to the media.
France's Safran (LSE: 0IU8.L - news) on Tuesday reaffirmed its interest in acquiring aircraft seats maker Zodiac Aerospace (LSE: 0NR6.L - news) despite the latest in a series of profit warnings, but pledged to take Zodiac's new forecasts into account in takeover discussions. Paris-based Zodiac earlier posted first-half revenues down 1.8 percent to 2.445 billion euros and reaffirmed revenue targets while slashing its forecast for full-year operating earnings. The French aircraft parts and systems supplier disclosed new cost overruns in its Zodiac Seats UK unit, which is developing seats for United Airlines, on top of cabin problems and weak markets for helicopters, business jets and regional aircraft.
France's Safran (LSE: 0IU8.L - news) on Tuesday reaffirmed its interest in acquiring aircraft seats maker Zodiac Aerospace (LSE: 0NR6.L - news) despite the latest in a series of profit warnings, but pledged to take Zodiac's new forecasts into account in takeover discussions. Paris-based Zodiac earlier posted first-half revenues down 1.8 percent to 2.445 billion euros and reaffirmed revenue targets while slashing its forecast for full-year operating earnings. The French aircraft parts and systems supplier said it had been hit by industrial problems in its Zodiac Seats UK and Cabins activities and weak markets for helicopters, business jets and regional aircraft.
French aero engine maker Safran (Milan: SAF.MI - news) said on Friday it would be prepared to discuss changes to the engine contract for the troubled Airbus A400M military aircraft, but ruled out sharing the planemaker's bill for penalties incurred so far. Airbus has called for talks with buyer nations and the engine consortium over ways to ease the contract, which has resulted in new penalties that it blames in part on flaws with a gearbox supplied by a sub-contractor to the engine makers. "We can't pay other peoples' penalties when our contract doesn't foresee it, so that is out of the question and we will respect our contract.
France's Safran (LSE: 0IU8.L - news) on Thursday rejected criticism by a UK hedge fund over a proposed $9 billion offer for Zodiac Aerospace (LSE: 0NR6.L - news) and pledged to stand firm as a spat intensified over plans to create the world's third-largest aerospace supplier. Defending its agreed bid to buy family-controlled Zodiac despite recent industrial problems there, the French engine maker sent a six-page rebuttal to TCI Fund Management, accusing it of waging a public campaign to undermine the project. TCI has questioned the strategic benefits of the deal and accused Safran of paying a "hugely inflated price" for Zodiac, which has issued a series of profit warnings following a production crisis in its aircraft interiors business.
LONDON/PARIS, Feb 23 (Reuters) - Hedge fund TCI Fund Management, locked in a war of words with Safran SA (LSE: 0IU8.L - news) over the aerospace firm's proposed bid for Zodiac Aerospace SA , said on Thursday the company had no proof that its valuation of the deal made sense. Safran, responding earlier on Thursday to TCI's criticisms of the deal, said its board had valued the offer at 13 times operating earnings based on Zodiac's recent margin guidance for 2019-20 and considered this to be in line with similar deals. Commenting on the letter from Safran Chairman Ross McInnes, TCI said the valuation was based on fragile assumptions given a recent spate of Zodiac profit warnings and Safran's inability to carry out due diligence at Zodiac's aircraft seat factories.
Airbus warned supplier Zodiac that it must not let itself be distracted by its planned tie-up with aero engine maker Safran, adding that the seat maker still had work to do after delays in supplying cabin ...
Hedge fund operator TCI Fund Management said on Thursday it had the support of several other investment firms in its protest against aero engines maker Safran's agreed bid for seats manufacturer Zodiac Aerospace. There aren't that many who disagree with us," added Amouyal, who declined to name the other investment firms that backed TCI's position. TCI says that Safran is paying too much for Zodiac, and says minority shareholders should have more information on the deal and more room to express their views on it.
The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- UK engineering company Smiths Group to acquire U.S.-based Morpho ...