Make-or-break deadline looms for EADS-BAE Systems merger

 

Simon English

Saturday 06 October 2012

Print
A A A
Related articles
Suggested Topics

Time seemed to be running out yesterday for the complex and politically awkward merger of EADS and BAE Systems to come to fruition.

The aerospace giants headed into the weekend with the fate of their merger hinging on a high-level accord over state shareholdings in the group. A UK deadline of 10 October for a deal to be agreed has been set.German newspaper Der Spiegel reported that Britain, France and Germany, whose approval is necessary for the record aerospace merger to go ahead, had failed to agree.

A spokesman for EADS denied the report: "We have been informed by the governments about the status of the discussions, but in no way have we been told that the deal is off.

"We continue to work towards the 10 October deadline that we have been given by the UK Government," he added.

A French government source described the report as "unfounded", while German officials declined to comment.

A number of stumbling blocks have emerged since the proposed tie-up was announced last month.

These include conflicting political interests in Britain, France and Germany, as well as some shareholders' dissatisfaction with the terms. BAE is keen to ensure there will be little state interference in running the new company. It wants France to forgo rights to increase its 15 per cent stake.

Comments

Independent Comment
blog comments powered by Disqus
News in pictures
World news in pictures
       
SPONSORED FEATURES

Get your summer started with British Military Fitness

BMF is the UK’s biggest and best loved outdoor fitness classes

Visit York Nook Get reading
Prizes & offers Business videos

Visit York

Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world

Military Fitness Nook Get reading
Prizes & offers Business videos

Making reading fun for kids

Nook is donating eReaders to volunteers at high-need schools and participating in exclusive events throughout the campaign.

Military Fitness Visit York Get reading
Prizes & offers Business videos

Introducing the 'Get Reading' campaign

Get the latest on The Evening Standard's campaign to get London's children reading.

Military Fitness Visit York Nook
Prizes & offers Business videos

Enter the latest Independent competitions

Win anything from gadgets to five-star holidays on our competitions and offers page.

Military Fitness Visit York Nook
Get reading Business videos

Business videos from commercial thought leaders

Watch the best in the business world give their insights into the world of business.

Military Fitness Visit York Nook
Get reading Prizes & offers

Day In a Page

James Pembroke: The man who's eaten everywhere

The man who's eaten everywhere

Few people know more about restaurants than James Pembroke, who only spent five mealtimes at home during his entire childhood.
A Berliner in 1963 – but did John F Kennedy once admire Adolf Hitler?

A Berliner in 1963 – but did John F Kennedy once admire Adolf Hitler?

The young JFK praised 'superior' Nordic races during visits to Germany
Banned Iranian director Mohammad Rasoulof to attend Cannes Film Festival 2013, his first public appearance since prison

Banned Iranian director to attend Cannes Film Festival

Mohammad Rasoulof to make his first public appearance since being imprisoned three years ago
Seeing the larger picture: Inspiring images of space

Seeing the larger picture: Inspiring images of space

An exhibition explores images how photography has shaped astronomy
Eat Spam and carry on: Wartime pamphlets could teach us a thing or two about healthy, thrifty eating

Eat Spam and carry on

Wartime pamphlets could teach us a thing or two about healthy, thrifty eating
Facial hair: Cat beards and the purrrsuit of excellence

Facial hair

Cat beards and the purrrsuit of excellence
The 10 Best salt and pepper sets

The 10 Best salt and pepper sets

Whether they're for everyday use or to make your dining table look just right, it's worth getting a stylish shaker...
Ferran Soriano: Predicting success if Manchester City 'vision' is followed

Ferran Soriano: Predicting success if Manchester City 'vision' is followed

Chief executive says trophies will come if a 'core' of suitable players is in place
Thomas Müller: We couldn't handle losing a Champions League Final again

Thomas Müller: We couldn't handle losing a Champions League Final again

The Bayern Munich forward tells Tim Rich his side have to shed chokers' tag after two recent final defeats
Giro d'Italia: The Stelvio Pass - cycling's killer climb

The Stelvio Pass - cycling's killer climb

As the Giro d'Italia tackles the brutal climb, Simon Usborne takes on the snow and switchbacks – and soon realises what the fuss is about
National archives: Edward VIII’s phone calls - and how MI5 bugged them

Edward VIII’s phone calls - and how MI5 bugged them

Newly unearthed papers reveal a shocking extra dimension to the constitutional crisis over monarch’s abdication
Sent down at the Old Bailey: A tour of the world's most famous court

Sent down at the Old Bailey

A tour of the world's most famous court
Hollywood's random acts of red-carpet kindness

Hollywood's random acts of red-carpet kindness

The Hangover actor Zach Galifianakis’s date for his movie premieres isn’t arm candy  – it’s his 87-year-old friend who he saved from homelessness
British football scores an own goal

British football scores an own goal

Many managers barely survive a year in post. Martin Baker talks to experts who make a case for clubs using forensic business skills to find the best staff
James Lawton: Sergio Garcia cracks as major fault line opens up again

James Lawton

Sergio Garcia cracks as major fault line opens up again