Tom Enders, Chief Executive of EADS, said it was "of course, a pity" the merger did not succeed:
I'd like to thank everybody who supported us, in particular all the colleagues at BAE Systems and EADS for all their hard work and dedication to this project in recent months.[...] It is, of course, a pity we didn't succeed but I'm glad we tried.
I'm sure there will be other challenges we'll tackle together in the future.
It has not taken long since the collapse of the proposed merger with Franco-German company EADS for the BAE board to be put under pressure.
The EADS and BAE mega merger is not going to go ahead, at least for now.
Talks between the two major defence companies continued into the night as they look to strike a deal.