Aircraft seat maker Zodiac's shares fly on Safran's 8.5b euro bid

Paris

FRENCH aero engine maker Safran on Thursday launched an 8.5 billion euro (S$13 billion) agreed bid for seats manufacturer Zodiac Aerospace to create the world's third-largest aerospace supplier as the industry bulks up to tackle record high output plans.

The deal comes three months after Zodiac's rival B/E Aerospace agreed to be absorbed by Rockwell Collins and six years after Zodiac's family shareholders rejected an approach from Safran, branding it "opportunistic".