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Bombardier Inc
Symbol BBD
Shares Issued 1,932,045,086
Close 2015-10-08 C$ 1.56
Market Cap C$ 3,013,990,334
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Globe says Bombardier founders won't loosen control

2015-10-09 07:53 ET - In the News

The Globe and Mail reports in its Friday edition that Bombardier is hunting for financial and strategic partners to help finance its plane programs, but the founding Beaudoin family opposes any effort to diminish its control. The Globe's Nicolas Van Praet quotes a source as saying, "People are dreaming" if they think the founders will loosen their grip on the company. Bombardier is exploring a range of options to cut its $9-billion (U.S.) debt. The effort, including exploratory talks with Airbus Group NV on sharing ownership of the C Series program, is not a last-ditch act of desperation by a company seeking an emergency rescue, officials say. Rather, it is part of a wider attempt to improve its balance sheet and finance longer-term needs just as earnings and cash intake come under significant pressure. Talks with Airbus broke off on Tuesday at the insistence of the European plane maker after they became public. Partnering with Airbus is only one of a number of avenues Bombardier is scouting. The company is also talking to pension fund manager Caisse de depot et placement du Quebec about an investment. The Caisse, however, is said to be unhappy with Bombardier's dual-class share structure.

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