Shares in Zodiac Aerospace saw an increase on Monday after the French aeronautics provider said it had snubbed an opening takeover approach from state-controlled aero engine manufacturer, Safran.

Zodiac took an oath that it would stay independent and chase its own acquisitions as it revealed the offer of talks from Safran late on Sunday, mutually with a Zodiac board vote rejecting the shift.

Paris traders had qualms over the startling events that would activate a hostile bid.

Take into account that Zodiac core shareholders have right to control 40% of Zodiac's voting rights, said a Paris trader, who did not want to be identified.

Thus an antagonistic move seems implausible, and anyway it's very doubtful that the French state, which has 30% of Safran, will give a nod to a hostile bid.

But Zodiac shares gained as the proposal focused investors' attention on the future of the corporation, which has frequently been at the center of merger conjecture surrounding Safran or its member state-controlled aerospace player, Thales.

Zodiac jumped as much as 5.4% in quick early trading. At 3:40 a. m. ET it was up 3.3% at 41.1 Euros, valuing the Paris-based Corporation at 2.2 billion Euros ($2.77 billion).