Latecoere considering three takeover bids
Latecoere announced that it is considering three competing takeover bids. The French aerospace company manufactures doors for Airbus and Boeing passenger aircraft, but had net debt totalling more than EUR350 million at the end of Jun-2010. GKN Aerospace, China's AVIC and Fokker-Stork are reportedly among the short-list of potential bidders.
In trading on Tuesday, GKN Aerospace shares fell 3.8%. The aerospace and automotive parts manufacturer warned late last week that it may have to cut component production if Japanese customers delayed orders.
Shares in Russia's United Aircraft Corporation rose 3.1%. At the end of last week, UAC and Antonov signed an agreement on the sale and purchase of a 50% stake in the statutory capital of UAC Civil Aircraft management company. The agreement is another step in the creation of a manufacturing JV between the two companies
.Selected Aerospace daily share price movements (% change): 22-Mar-2011