Wide-Moat Safran Plans to Acquire Zodiac Aerospace at Fair Price and Announces Special Dividend
On Jan. 19, wide-moat Safran announced plans to acquire cabin and seat supplier narrow-moat Zodiac Aerospace for EUR 8.5 billion, financed with a combination of cash on hand, including proceeds from the disposal of Safran Identity & Security; existing undrawn facilities; and a EUR 4 billion fully underwritten bridge loan. If the acquisition succeeds,Safran will distribute a special dividend of EUR 5.5 per share to its shareholders prior to the close. We think the deal price (EUR 29.47 per Z...
Airbus is an European Aeronautic Defense and Space company whose core business is the manufacturing of commercial aircraft, civil and military helicopters, commercial space launch vehicles, missiles, military aircraft, satellites and defense systems and defense electronics and the rendering of services related to these activities. Co. organizes its businesses into the following five operating divisions: Airbus Commercial, Airbus Military, Eurocopter, Cassidian and Astrium. In addition, Co.'s Other Businesses division engages in the development, manufacturing, marketing and sale of regional turboprop aircraft and aircraft components.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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