Safran, a jet engine maker, agreed to acquire the actuation and flight control business from Collins Aerospace, a supplier of aerospace and defense products, for $1.8bn. "The contemplated transaction represents a unique opportunity to develop our position in mission critical actuation and flight control functions. Our highly complementary product offerings would create a global leader in these segments with around $1.8bn of sales. The transaction would enable us to deliver a comprehensive offering to our clients and position us extremely well for next-generation platforms as the segments move toward increased electrification. The business is a perfect fit with both our product portfolio and our DNA with leading technologies, recurring aftermarket sales, and profitable growth," Olivier Andriès, Safran CEO. The Italian government had exercised its “golden power” to oppose its acquisition of Microtecnica, Collins Aerospace’s Italian subsidiary. Italy concluded that the deal “poses an exceptional threat to the essential interests of national defence and security”.