Aerospace & Defense | Plaisir, France | Corporate Acquisition
European aerospace suppliers Safran (EPA: SAF) and Zodiac have secured the approval of Safran's shareholders for their proposed €7.3 billion combination. The vote had come into question recently after activist investor TCI Management, which holds an almost 4% stake in Safran, planned to vote against the deal. The combined company will be the world's third largest supplier in aerospace behind United Technologies and General Electric, per Reuters. Safran stock rose just over 3% on Friday.