EADS, BAE call off world's biggest arms merger |
| Reuters - Oct 10, 2012 |
EADS and BAE Systems called off the world's largest defense and aviation merger on Wednesday, and pinned the blame on Germany for wrecking the $45 billion deal.
BAE said it had become clear that the interests of the French, British and German governments could not be reconciled with each other or with the objectives that BAE and EADS established for the merger.
"BAE Systems and EADS have therefore decided it is in the best interests of their companies and shareholders to terminate the discussions and to continue to focus on delivering their respective strategies," BAE said in a statement.
BAE is a private British company, and its biggest customer is the U.S. military, accounting for nearly half its revenue. EADS, the Franco-German maker of Airbus planes, has a more complicated share structure, giving large influence to German and French industrial groups and the French state.
Read Full Article from Reuters
- Posted: 2012-10-10 13:35:50
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