RECRIMINATIONS BEGIN
• EADS Rules Out New Merger Talks with BAE. “It’s not on our radar; we’re both moving on,” said Tom Enders, CEO of EADS. “ By Chris Pocock, Aviation International News, March 1, 2013: TEXT | PICTURE
• BAE Systems Chairman Will Step Down a Year Early Say Investors. Chairman Dick Olver's position has been in the spotlight since the collapse of BAE's proposed tie-up with EADS. Nasdaq, November 2, 2012: click here
• BAE Shareholder Revolt Deepens as Invesco Demands Chairman Quit. BAE’s biggest shareholder, Invesco, called for the resignation of Chairman Dick Olver after failed merger with European Aeronautic, Defence & Space Co. By Robert Wall, Bloomberg, October 23, 2012: click here
• German BAE/EADS "veto" was a disappointment, UK's Osborne says. British finance minister George Osborne on Saturday blamed an effective German veto for the failure of a $45 billion merger. By David Milliken, Reuters, October 12, 2012: click here
THE DEAL COLLAPSES
• Telephone call that put BAE’s deal in a tailspin. It was a curt and difficult call for Mr Hollande, who had come round to seriously supporting the deal just days earlier. By Carola Hoyos, Gerrit Wiesmann, James Boxell and Anousha Sakoui, The Financial Times, October 12, 2012: click here
• BAE-EADS merger talks collapse. Experts said the failure of the deal could leave the U.S. arm of BAE Systems better positioned to participate in a wave of smaller consolidations.By Marjorie Censer, Washington Post, October 10, 2012: click here
• A letter from the Chairman Dick Olver and Chief Executive Ian king. BAE Systems, October 10, 2012: click here
• Ad-hoc release, 10 October 2012: BAE Systems plc and EADS N.V. EADS, October 10, 2012: click here
• EADS-BAE merger blow-up spells relief for Boeing. Ironically, the threat was erased not by Washington or more litigation before the World Trade Organization, but by squabbling among the Europeans themselves. MarketWatch, October 10, 2012: click here
POLITICS ENTER THE EQUATION
• British Defence Secretary Philip Hammond expects BAE/EADS statement before market open. "I think the companies now have a very clear understanding of the positions and the red lines of the governments involved," he said. Reuters, October 9, 2012: click here • Invesco voices concern over BAE tie-up. Invesco,
BAE Systems ' largest shareholder on signalled its “significant reservations” to BAE-EADS tie-up. By Jonathan Ford, The Financial Times, Octobe 8, 2012: click here
• UK threatens to veto BAE-EADS merger if Franco-German government interests not reduced. “It is not, I think, necessary to have no French or German government interest in the company,” UK Defence Secretary Philip Hammond said. AP, Washington Post, October 7, 2012: clik here
• BAE-EADS merger: France and Germany 'must reduce stake.' UK Defence Secretary Philip Hammond has said. BBC News, October 7, 2012: click here
Philip Hammond spoke on BBC Radio 4's The World This Weekend (audio): click here
• BAE to ringfence US defence arm in bid to win merger approval. Attempts by BAE Systems and EADS to win approval for their £28bn merger will include ringfencing the US defence arm. The Guardian, September 23, 2012: click here
• Why BAE-EADS merger is double trouble for Boeing. BAE-EADS merger would create the world's largest integrated defense and commercial aviation company with annual sales of $92.4 billion, topping Boeing by more than a third. Reuters, September 21, 2012: click here
• Boeing defense CEO says BAE-EADS merger needs scrutiny. "There are ... national security questions, industrial questions, and those will have to be dealt with," said
Dennis Muilenburg. By Andrea Shalal-Esa, Reuters, September 20, 2012: click here
• Union demands safeguards on BAE-EADS. IG Metall (Europe’s largest union) demanded that Germany, France and the UK honour contracts and guarantee jobs after merger. By Gerrit Wiesmann, The Financial Times, September 20, 2012: click here
• BAE-EADS faces tougher US ‘firewall.’ “Firewall” on BAE's US activities would need strenghtening to ensure sensitive technology and information does not leak outside the US. By Carola Hoyos and Stephanie Kirchgaessner, The Financial Times, September 16, 2012: click here
COMMERCIAL DREAM
• EADS-BAE talks may spur European drone development. A combination with BAE would give EADS an opportunity to avoid losing more ground in drones, which are becoming more common in areas such as border control, especially in the United States. By Maria Sheahan and Victoria Bryan, Reuters, September 14, 2012: click here
• BAE Systems and EADS Say They Are in Merger Talks. The combined company would rival Boeing. Annual sales at the two companies topped $96 billion in 2011. Boeing’s revenue was nearly $70 billion last year. By Nicola Clark, New York Times, September 12, 2012: click here
• EADS and BAE in defence tie-up talks. EADS would control 60 per cent of the enlarged group, which would have a unified board and management structure. By Carola Hoyos, Anousha Sakoui, James Boxell, and Gerrit Wiesmann, The Financial Times, September 12, 2012: click here • Press releases announcing proposed merger, September 12, 2012: BAE System plc I EADS N.V.
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Universal Armory: BAE System plc-EADS N.V. €38bn (US$ 49.4bn) failed merger. On September 12, 2012, BAE and EADS submitted a statement to the London Stock Exchange about the possible business combination of their operations. EADS (European Aeronautic Defense and Space Company) was created out of the merger of DaimlerChrysler Aerospace (Germany), with Aérospatiale Matra (France) and CASA (Spain) and its best known division is
Airbus Industrie, Boeing's main competitor. BAE Systems if the largest British and European defense company and have merged several companies including Armor Holdings, United Defense Industries, and Detical Group. The merger could have brought together Europe's largest civil aerospace company and weapons manufacturer to create the largest defense and commercial aviation coproration.