Safran Asks for Mandatory Squeeze Out of Remaining Zodiac Shares
By Alberto Delclaux
France's Safran SA (SAF.FR) said Thursday that it now owns 97.57% of Zodiac Aerospace (ZC.FR), and that it will ask the French market authority for a mandatory squeeze out of the remaining shares.
During the reopened offer period from Feb. 19 to March 2, more than 27 million Zodiac shares were tendered, Safran said. The squeeze out will be executed at 25 euros ($31) a share, the same price as that of the reopened offer.
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(END) Dow Jones Newswires
March 08, 2018 04:24 ET (09:24 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.