It's The Semantics

I was a little surprised by your Top 10 A&D deals table (AW&ST Sept. 26, p. 28). It lists Snecma as being acquired by Safran in 2005 for $6.2 billion, but in fact Safran was created in 2005 by the merger of Snecma and Sagem. Snecma was the larger company, but the merger was structured as an...

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