- 26 updates
Jim Moohan, GMB union official in Scotland has welcomed the collapse of merger talks between BAE Systems and EADS, saying the workforce will be relieved. He said:
The Government said that it was clear the proposed BAE EADS merger had commercial logic, but insisted the merger would only be successful if the interests of all parties were met. A Government spokesman said:
Reuters is quoting the Department of Business, Innovation and Skills as saying BAE and EADS will remain as successful independent companies with significant UK presence.
Defence Secretary Philip Hammond spoke to his adviser outside the Conservative Party Conference moments after it was announced that the BAE-EADS merger deal had collapsed.
Mr Hammond had been inside watching David Cameron's conference speech.
Tom Enders, Chief Executive of EADS, said it was "of course, a pity" the merger did not succeed:
Ian King, Chief Executive of BAE Systems, said he was "obviously disappointed" but insisted the business remained robust. He said:
BAE Systems and EADS released a joint statement announcing the formal termination of their merger talks and blaming the government stakeholders for the collapse. They said:
Unite the union has called for the government to strengthen its 'golden share' in BAE systems to save British jobs, following the reported collapse of merger talks between BAE Systems and EADS.
Ian Waddell, Unite national officer for aerospace and shipbuilding said:
Defence manufacturer BAE Systems says it has called off discussions on its proposed merger with EADS
Latest ITV News reports
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.