EADS, BAE CALL OFF MERGER
Merger plans for British Aerospace and Airbus owner EADS have collapsed. The attempted merger would have created a European giant to rival Boeing in the United States. But a combination of political pressure and angry shareholders killed the 45 billion dollar deal.
It was in the wings of this week's Nato summit that the $45 billion dollar merger of British Aerospace and EADS was seen off with a military precision.
Defense Ministers from Germany France and the UK all on site and all opposed to the deal of the decade for differing reasons.
Thomas de Maisiere, German Defense Minister, said, "The German defence industry is competitive. A merger always has two sides. The provider-side offers to the defence ministry and the taxpayer, and it should not not be too monopolistic. It is now a decision of the company, there have been many negotiations, we gave our opinion, I don't want to comment on this further."
Afterwards British Aerospace, the UK's paramount defense contractor issued a statement lamenting the loss of a merger it said was a unique opportunity based on sound industrial logic.
Fingers soon pointed at the Germans said to be uncomfortable with the military side of British Aerospace business.
EADS is the Franco German owner of Airbus with substantial Government involvement. And that caused problems for the British who argued unsuccessfully for a radical reduction in stakes held by Berlin and Paris.
But there was another constituency the bosses at BAE and EADS had forgotten about the shareholders. The merits of the 'industrial logic' was lost on them.
The fallout from this failed deal will be immense. Here at British Aerospace, they've revealed themselves as needing support and companies in the US could soon be circling for a takeover.
The boss Ian King could fall victim to a shareholders revolt and it certainly looks like the end for Tom Ends, the boss at EADS - his vision for 2020 having crashed and burned in dramatic style.
Festivals And Special Events In Washington, DC, Maryland And ...
The art and wine festival in Alexandria's West End neighborhood features the artwork of dozens of juried artists, the first permanent English settlement in North America with 18 months of events in 2006 and 2007. London Town and South County. Throughout the three-day weekend, ... Read Article
54 ARTHUR STREET-long - City Of Winnipeg : Official City Of ...
Advance in land prices along Main Street north of Portage Avenue necessitated the replacement Companies like R.J. Whitla, Stobart, James H. Cadham was born near London, Canada West (Ontario), on August 31, 1850, ... Fetch Content
Len Deighton was born in London in 1929. a well known West-End meeting-place, famous for its fine bread and cream cakes before the war. "They are in the next-door building--Norman Shaw North--and they are nearly all Germans." ... Visit Document
2009/2490 Tram Shed - The Hackney Society: Working To ...
London E5 0LY Tel: 020 8806 4003 E: (both listed). Opened on 12 July 1873 by the North Metropolitan Tramways Company the former Lea Bridge Tramway Depot retains many original features “Hackney’s location on the city fringe is ideal for companies who need to be close to the Central ... Fetch Content
No comments:
Post a Comment