It is hard to feel too sorry for TCI. The activist hedge fund is probably right to complain that a big French aerospace deal will destroy shareholder value. But if the deal goes ahead, it has the luxury of profit on its side. Safran, a major supplier of aircraft engines and other parts, last month announced the acquisition of Zodiac, a crisis-struck manufacturer of aircraft seats and cabin-fittings. Management presented the deal as...

Source: Wall Street Journal February 22, 2017 09:56 UTC