BAE merger deal called off

Major defence firms BAE and EADS are blaming politicians for the collapse of their £25bn merger deal.

Latest ITV News reports

Advertisement

Hammond 'waiting for an announcement' on BAE

Defence Secretary Philip Hammond said the government is waiting for an announcement on the proposed BAE-EADS merger deal.

He told Reuters:

We are waiting for an announcement from the companies - the companies are dealing with it now.

They had a board meeting yesterday afternoon and evening. We are waiting to hear their announcement which I understand has to come today.

It is not for me to say who is doing what - it is the companies that now have the decision in their hands.

Advertisement

BAE merger deal 'not looking great'

by - Former Business Editor

As the clock ticks down to the deadline the boards of BAE and EADS are meeting again this morning.

I am told the deal is "not looking great", but conversations are still going on with politicians, particularly Germany's playing a big part.

In theory, the announcement to extend the talks or ditch the deal could come as late as five this afternoon.

But it seems more likely the companies will let the rest of the world know their conclusions some time before that.

Load more updates