1. National

BAE merger deal called off

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

View all 26 updates ›

BAE: 'Obviously disappointed' with merger collapse

Ian King, Chief Executive of BAE Systems, said he was "obviously disappointed" but insisted the business remained robust. He said:

We are obviously disappointed that we were unable to reach an acceptable agreement with our various government stakeholders.

We believe the merger presented a unique opportunity for BAE Systems and EADS to combine two world class and complementary businesses to create a world leading aerospace, defence and security group.

However, our business remains strong and financially robust....We remain committed to delivering total shareholder value and look to the future with confidence.

More on this story