Safran has confirmed it is in negotiations with Raytheon Technologies over the potential acquisition of certain parts of the latter’s flight control and actuation business.
However, the French aerospace giant cautions: “At this stage, it is not possible to evaluate the chances of reaching any agreement, nor is it possible to be specific about terms and conditions.”
Safran was responding to a Bloomberg report that said it was lining up a deal valued at around $1 billion. It has an existing flight control business which sits within the group’s electronics and defence unit. Reports emerged earlier this year that Raytheon had sought initial bids in the actuation business, which is part of Collins Aerospace.