Safran offers remedies to win EU approval for Collins deal
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. 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.