Wed, Jul. 20, 11:58 AM
- The European Union approves Airbus (OTCPK:EADSF, OTCPK:EADSY) and Safran's (OTC:SAFRF, OTCPK:SAFRY) joint takeover of Europe’s premier rocket launch company Arianespace on condition that the companies implement measures to prevent the exchange of sensitive information.
- The companies agree to put in place firewalls between Airbus and Arianespace to prevent information flows that could hurt competitors, not to share information about outside companies with each other that does not apply to the daily operation of the business, and to restrict employee mobility between the companies.
- The EU decision, which was expected, likely will result in Airbus Safran's payment of ~€150M ($166M) to the French space agency CNES, which holds the 35% stake on behalf of the French government.
Sun, Apr. 3, 3:29 AM
- The fleet implications of the rumored Alaska Air (NYSE:ALK) buyout of Virgin America (NASDAQ:VA) are "enormous," WSJ reporter John Ostrower writes.
- Boeing (NYSE:BA) prides itself on its partners, including ALK, which flies only Boeings on its mainline subsidiary. With Virgin - an all-Airbus (OTCPK:EADSF) customer - Alaska Air could suddenly become an operator of Boeing, Airbus, Embraer (NYSE:ERJ) & Bombardier (OTCQX:BDRBF) aircraft. Or it might look to shed its non-Boeing jets and consolidate.
- Alaska already has 30 aircraft on order from Embraer for its regional operations. Virgin, meanwhile, operates 60 Airbus jets, with another 40 on order.
- Now read Boeing And Airbus: The Order Battle »
Fri, Mar. 18, 4:10 PM
- P-E firm KKR agrees to acquire Airbus' (OTCPK:EADSF, OTCPK:EADSY) defense electronics business for €1.1B ($1.2B), with the European aerospace firm possibly keeping a minority stake in the division during the transition period.
- Airbus is shedding several areas to focus its defense division on missiles, warplanes, launchers and satellites.
- The deal went ahead after Airbus excluded its border security business from the planned sale, having missed its goal of reaching a deal by early 2016 because of delays with a border project in Saudi Arabia.
Wed, Feb. 24, 12:40 PM
- With United Technologies having spurned a massive tie-up, Honeywell (HON -1.1%) is now (quietly) looking for a buyer for its building solutions business, The Wall Street Journal is reporting.
- The unit could draw $3B-$4B in a sale. In its last earnings report, Honeywell noted Building Solutions & Distribution sales were down 3% on a headline basis, but grew 3% on a core organic basis.
- Goldman Sachs is reportedly helping with any sale.
- With deal chatter and statements coming out of both United Tech and Honeywell yesterday, UTX is leading Dow gainers today, up 1.5%.
- Airbus (OTCPK:EADSY) -- dependent on subsystems from both -- has opposed any attempt to revive a deal between the two.
- Previously: Honeywell: Regulation not an obstacle to United Tech merger (Feb. 23 2016)
- Previously: United Tech CEO discusses Honeywell merger talks (Feb. 23 2016)
- Previously: Honeywell closes lower on report that UTX rebuffed merger as unlikely (Feb. 22 2016)
Dec. 7, 2015, 7:10 PM
- Amid a company refocusing, Airbus (OTCPK:EADSY +2.2%) is looking at a sale of its Vector Aerospace services unit that could bring more than $800M, Reuters reports.
- Sources say the company has hired investment bankers to run an auction for Toronto-based Vector, which it bought (as the former EADS) in 2011 for about $640M.
- The unit has 2,300 employees and annual EBITDA of about $80M.
- Airbus is also expecting to pick a buyer for its defense electronics division by the end of the year, and has authorized a €1B buyback to be wrapped up by June 2016.
Jul. 8, 2015, 6:43 PM
- Lockheed Martin (NYSE:LMT) and Textron (NYSE:TXT) have emerged as final contenders to buy United Technologies' (NYSE:UTX) Sikorsky Aircraft unit, which could be valued at ~$8B, Reuters reports.
- UTX reportedly is weighing offers from the two companies and may come to a decision by the end of the month, but it still could decide against an outright sale and instead spin off Sikorsky to shareholders in a tax-free deal.
- TXT, whose ~$12B market cap is only one fifth the size of LMT's $60B, is said to have reached out to P-E firms to put together a cash bid.
- Boeing (NYSE:BA), which had expressed interest in a potential deal, is no longer active in the sale process, and Airbus (OTCPK:EADSF, OTCPK:EADSY) is not in the running, according to the report.
- UTX +1.5% AH.
Jun. 10, 2015, 2:38 AM
- After receiving several offers, United Technologies' (NYSE:UTX) board of directors is scheduled to meet later this week to review the options for its $8B Sikorsky aircraft business.
- UTC is considering two tax-efficient transactions for Sikorsky: a spin-off or combination with peer Textron (NYSE:TXT).
- Alternatively, Sikorsky may be sold outright to another company. Lockheed Martin (NYSE:LMT), Boeing (NYSE:BA) and Airbus (OTCPK:EADSY) have all expressed interest.
May 19, 2015, 6:51 PM
- United Technologies (NYSE:UTX) is talking to potential buyers for its Sikorsky Aircraft business, WSJ reports, raising the prospect that a spinoff could turn into a sale.
- Boeing (NYSE:BA), Airbus (OTCPK:EADSF, OTCPK:EADSY) and Lockheed Martin (NYSE:LMT) reportedly are among the companies exploring bids or a potential minority stake in the helicopter maker.
- Analysts estimate Sikorsky could fetch ~$10B in a full sale.
Mar. 23, 2015, 11:13 AM
- Airbus (OTCPK:EADSY -1.1%) Defense and Space has agreed to sell aerospace engineering business Rostock System Technik to Ferchau Engineering for an undisclosed sum.
- The move is part of plans to sell businesses with combined revenues of about €2B ($2.2B) to focus its defense and space unit on warplanes, missiles, launchers and satellites.
- Rostock System Technik and Ferchau Engineering are both based in Germany.
Apr. 9, 2013, 4:16 AM
French media company Lagardere (LGDDF.PK) has sold its 7% stake in aerospace and defense firm EADS (EADSF.PK) in a private placement for €2.28B, or €37.43 a share. EADS placed an order of €500M in the transaction, which is part of a wider revamp of the company's ownership structure. (PR)| Apr. 9, 2013, 4:16 AM
Dec. 4, 2012, 2:25 PM
Shareholders are putting the finishing touches on concessions to squeeze out a deal to shake up EADS (EADSY.PK). The restructuring is expected to bring Germany on board as a direct shareholder for the first time, while allowing proxy industrial shareholders - French media firm Lagardere and Germany carmaker Daimler (DDAIY.PK) - to sell their stakes. Once completed, investors are hoping that meddling will be reduced as industrial proxy shareholders in France and Germany withdraw and state veto powers are curbed.| Dec. 4, 2012, 2:25 PM
Oct. 11, 2012, 10:15 AMWith defense budgets being slashed around the world, the collapse of the BAE's $45B merger with EADS will put the focus on possible deals between tier-two firms such as Rockwell Collins (COL), L-3 Communications (LLL), SAIC (SAI) and Harris (HRS), industry execs and bankers tell Reuters. Much could depend on whether Congress averts the automatic defense cuts that are due from Jan 1. | Oct. 11, 2012, 10:15 AM | 5 Comments
Oct. 10, 2012, 8:27 AM
More on EADS-BAE merger breakdown: "It has become clear that the interests of the parties' government stakeholders cannot be adequately reconciled with each other or with the objectives that BAE Systems and EADS established for the merger," BAE says in a statement. The end of the merger is not a huge surprise given that it was dependent on France and Germany agreeing to reduce their influence.| Oct. 10, 2012, 8:27 AM
Oct. 10, 2012, 8:11 AMBAE Systems and EADS cancel their planned $45B merger after negotiations became bogged down in political deadlock. | Oct. 10, 2012, 8:11 AM | 1 Comment
Oct. 10, 2012, 8:02 AM
EADS's $45B merger with BAE Systems could be about to collapse, with Reuters reporting that talks over the deal are deadlocked just four hours ahead of a key regulatory deadline in the U.K. for extending the talks. That will only happen if British, German and French leaders give their approval for further negotiations. (see earlier)| Oct. 10, 2012, 8:02 AM
Oct. 10, 2012, 5:54 AMEADS and BAE Systems have until 5 pm U.K. time (12 noon ET) to decide whether to ask U.K. regulators for more time to finalize their merger plans or to scrap the deal. Doubts are growing about German backing for the deal, with Reuters reporting that Angela Merkel opposes it, although it's not clear why. | Oct. 10, 2012, 5:54 AM