aircraft braking system

Meggitt (Aircraft braking systems)

Mr. Steiner's biggest disappointment so far has been the failure of his $467 million bid for Loral's aircraft braking systems division.

In 2007 Meggitt acquired K&F Industries, the parent company of the Aircraft Braking Systems Corporation, for circa £930 million.

Reinforced carbon discs and pads inspired by aircraft braking systems such as those used on Concorde were introduced in Formula One by Brabham in conjunction with Dunlop in 1976.

With the $17 million subtracted from Banner's offer, Loral would have realized $450 million from the deal, $5 million less than Mr. Schwartz's offer for the aircraft braking systems and engineered fabrics divisions.

LEAD: Banner Industries said it had bid $457 million, mostly in cash, to acquire the aircraft braking systems and engineered fabrics divisions of the Loral Corporation, a company whose leading business is military electronics systems.

Crane's lawsuit contended that Coltec, a maker of aircraft braking systems, broke a 1995 promise to notify Crane of any offers to buy it when Coltec agreed in November to be acquired by Goodrich for about $1.6 billion in stock, excluding the assumption of debt.