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Zodiac rejects bid from Safran
FRENCH aerospace group Zodiac Aerospace yesterday said it had rejected a preliminary takeover approach from state-controlled Safran and vowed to stay independent and even seek more acquisitions.
Zodiac, the maker of aircraft systems and cabin interiors, said its board considered a “friendly” offer of talks from Safran Chief Executive Jean-Paul Herteman on an “industrial combination of the two groups”, but decided it did not make sense.
Safran, which makes jet engines, aircraft parts and security systems, did not comment.