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© safran Business | May 30, 2017

Safran and Zodiac amend Terms & Conditions

Safran and Zodiac Aerospace have withdrawn the previously agreed transaction structure (from January 19, 2017) and have - instead - entered into a Business Combination Agreement.
As a run-up, Safran requested the suspension of trading its shares on May 24, 2017.

Under the terms of the new agreement:
  • The contemplated transaction structure consists of a Tender Offer by Safran for Zodiac Aerospace's shares
  • The Tender Offer would not be open to the public in the United States of America or any jurisdiction other than France where action to permit the offer is required.
  • The completion of the Tender Offer would be subject to reaching (i) the mandatory overall acceptance threshold of 50% of Zodiac Aerospace's share capital or voting rights, and (ii) a voluntary overall acceptance threshold of two-thirds of the exercisable voting rights of Zodiac Aerospace.
  • Following completion of the Tender Offer, Safran intends to provide that Zodiac Aerospace would distribute no dividend and reserves its rights to consider the possibility of a squeeze-out or a merger.
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For more detailed information, visit Safran's website.

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November 14 2017 8:30 PM V8.8.9-1