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Business/Financial

Safran Buys Remaining GE Stake In Morpho Detection

Defense Daily Staff

Wednesday, December 5th, 2012

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France's Safran Group yesterday said it has acquired the remaining stake in the explosives detection company Morpho Detection Inc. (MDI), that it did not already own, from General Electric [GE] for $117.9 million in cash. Safran originally acquired 81 percent of GE's former homeland security business in 2009 for $580 million in cash, leaving GE with a residual take in MDI, which it had pieced together through several acquisitions (Defense Daily, April 27 and Sept. 9, 2009). MDI's main products…

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