Hedge Funds

Activist TCI steps up efforts to ground $9bn aerospace deal

Hedge fund manager Sir Chris Hohn sees only 'value destruction' in French aerospace giant Safran's takeover efforts

Activist TCI steps up efforts to ground $9bn aerospace deal
Photo: Getty Images

TCI Fund Management, the activist hedge fund manager run by Sir Chris Hohn, has intensified its campaign against a $9 billion acquisition being proposed by the French aerospace giant Safran.

TCI owns 4% of Safran and thinks it is "significantly overpaying" for Zodiac, which makes aircraft seats and cabin interiors, given the latter's multiple profit warnings in recent years.

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