BAE abandons merger plans

BAE Systems has a site in Yeovil. Credit: ITV Westcountry

Defence contractor BAE Systems confirmed today that plans for a £28 billion merger with French rival EADS have been scrapped.

The deal would have created a defence titan with combined sales of £60 billion and more than 220,000 staff, with around 52,000 employees in the UK.

BAE Systems has a site in Yeovil. Unions believed the link-up would have created a strong company to guarantee jobs in the long term.

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