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Zodiac says any takeover would have to offer better value than can be achieved alone
November 22, 2016 / 9:31 AM / in a year

Zodiac says any takeover would have to offer better value than can be achieved alone

PARIS, Nov 22 (Reuters) - France’s Zodiac Aerospace would only consider an offer for the company if it represents better value than it can achieve alone, but the company remains focused on its industrial recovery plan, Chief Executive Olivier Zarrouati said on Tuesday.

Zarrouati, who has previously said the Paris-based aircraft cabin equipment supplier was not for sale, told analysts in response to a question about Zodiac’s stance towards any potential offer: ”The purpose of this management team is to run our plan and it is a standalone plan.

“Does it mean we are ...unable to take any good opportunity that would come? Any opportunity would have to be better than we would be able to do by ourselves. That is why we are focusing on our job.”

There have been recent reports that France’s Safran was interested in buying Zodiac, but a source familiar with the matter said earlier this year that this was not on the agenda.

In the United States, Rockwell Collins plans to buy Zodiac’s main competitor B/E Aerospace. (Reporting by Cyril Altmeyer and Tim Hepher; editing by Jason Neely)

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