EADS seeks acquisitions

EADS is working on “a number” of acquisition targets and hopes to start buying later this year, Europe’s biggest aerospace and defence group said on Wednesday.

The European Aeronautic Defence and Space company, which has seen its cash pile swell to more than €10bn ($13bn), is considering “at least two to three” acquisition projects, said Hans Peter Ring, finance chief.

“I would expect something to happen this year,” he said on the sidelines of an EADS news conference at the group’s space division, Astrium, outside Paris, adding that final decisions would depend on opportunities and pricing.

EADS has been considering ways of boosting its presence in US defence industries for some time and is being pressed to start doing deals or return some of its cash to shareholders.

Read Full Article from Financial Times

- Posted: 2011-01-12 14:57:10

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