The Los Angeles Post
U.S. World Business Lifestyle
Today: March 21, 2025
Today: March 21, 2025

Safran offers remedies to win EU approval for Collins deal

The international Milipol security fair in Villepinte near Paris
March 17, 2025
Foo Yun Chee - Reuters

By Foo Yun Chee

BRUSSELS (Reuters) - French engine and aircraft equipment maker Safran has offered remedies in an attempt to secure EU antitrust approval for its $1.8 billion bid for Collins Aerospace's flight controls business, an update on the European Commission website showed on Monday.

The EU competition enforcer, which did not provide details in line with its policy, extended its decision deadline on Safran's bid for the U.S. company to April 4 from March 21.

It is now expected to seek feedback from rivals and customers before deciding whether to accept the concession, demand more or open a four-month long investigation.

Safran in December announced the sale of its electromechanical actuation business in North America, which includes its intellectual property, operations assets, staff, and customer agreements for HSTA systems, to U.S. aircraft parts maker Woodward.

It said the deal was related to the Collins acquisition.

The EU antitrust watchdog had in February asked rivals and customers whether the deal would give Safran more market power, a person familiar with the familiar told Reuters.

(Reporting by Foo Yun Chee; Editing by Tomasz Janowski)

Share This

Popular

Business|Political|Technology|US|World

Pentagon to brief Musk on top-secret plan for potential war with China, NYT reports

Pentagon to brief Musk on top-secret plan for potential war with China, NYT reports
Asia|Business|Finance|Stock Markets

Shares of Hong Kong's CK Hutchison drop on dividend disappointment, volatile outlook

Shares of Hong Kong's CK Hutchison drop on dividend disappointment, volatile outlook
Business|Economy|Finance|MidEast|World

Gold set for third week of gains on global uncertainties, rate cut hopes

Gold set for third week of gains on global uncertainties, rate cut hopes
Asia|Business|Economy|Finance|Stock Markets

Asian stocks slip as growth, tariff worries weigh

Asian stocks slip as growth, tariff worries weigh

Economy

Asia|Business|Economy|Food

China's restaurants race to the bottom in deflation-hit economy

China's restaurants race to the bottom in deflation-hit economy
Asia|Business|Economy|Environment|Political

Most Japan firms stay committed to diversity despite US moves, Reuters survey shows

Most Japan firms stay committed to diversity despite US moves, Reuters survey shows
Asia|Business|Economy|Finance

Japan's core inflation hits 3% in February, keeps alive BOJ rate-hike bets

Japan's core inflation hits 3% in February, keeps alive BOJ rate-hike bets
Americas|Economy|Political|World

Argentina unions to strike against Milei on April 10

Argentina unions to strike against Milei on April 10

Access this article for free.

Already have an account? Sign In