Safran will decide in the coming days to make a bid on Zodiac and, where appropriate, offer a significant premium to shareholders of the aerospace supplier, said Monday the Tribune, citing inside sources.
No hostile bid will be made, the newspaper said, while the offensive Saffron comes a month after an initial rejection of the leaders of the Zodiac.
"Considering that we have more than one in two chance, we'll go, if it has less than one in two chance, wait. This folder will always feel in six months a year," told the newspaper an internal source of saffron.
A spokesman declined to comment Safran information immediately.A spokesman declined to comment Zodiac.
Around 11:25, the action was progressing Zodiac 13.01% to 49 euros on the Paris Stock Exchange after reaching a high of 53.4 euros earlier in the morning.At the same time, Saffron retreated 1.66% to 19.01 euros.
Saffron is able to offer a premium of 30-40% compared to the current course, says the Tribune, the equivalent of the highest historic title in 2007, to 58 euros.
Safran is ready to bring the family shareholders of Zodiac in its capital, the newspaper said, which would dilute the share of the state, now a shareholder group to 30%.
Citing "multiple sources," the newspaper wrote that the family Domange shareholder Zodiac up 9.28%, is not ready to sell, unlike the Peugeot family (5% of capital) who would be willing to cede Units.
Safran will do this for an offer to allow shareholders to retain the family tax benefit they have obtained by signing a pact Dutreil "six years ago and through which they receive a tax exemption on capital of 75%.
In prior postings to the families, Safran said his project is an acquisition of Zodiac, but that it could be achieved by exchange of securities and merger in order to preserve the fiscal pact, The Tribune wrote.
