Aerospace and defense giants BAE Systems
BA.LN -1.38%
PLC and European Aeronautic Defence & Space Co.
EAD.FR +5.29%
on Wednesday called off their planned merger after the U.K., France and
Germany failed to agree on how much influence they should have over the
combined entity. The companies made no mention of any plans to revive
the merger project at a later stage.
The decision brings to an end several months of increasingly frenetic negotiations on plans by the companies to create the world's biggest defense group by sales.
With BAE Systems and EADS quick to blame politicians for the deal's collapse, singling out intransigence in Berlin in particular, the merger's failure raises fresh questions on European governments' ability to set aside national interests regarding cross-border projects.
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The decision brings to an end several months of increasingly frenetic negotiations on plans by the companies to create the world's biggest defense group by sales.
With BAE Systems and EADS quick to blame politicians for the deal's collapse, singling out intransigence in Berlin in particular, the merger's failure raises fresh questions on European governments' ability to set aside national interests regarding cross-border projects.
Read More..............
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