EADS flies again, with hedge and buyback support
Daimler launched a €2.26bn sale of its 7.5% stake in EADS on Tuesday night, with banks waiving a lockup to complete the sale a week after a €2.28bn trade from Lagardère. The new offer comes with €600m of support from the EADS buyback programme and around €300m more from bookrunner hedging of a derivative position that gives Daimler potential upside.
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