BAE merger deal called off
Major defence firms BAE and EADS are blaming politicians for the collapse of their £25bn merger deal.
Major defence firms BAE and EADS are blaming politicians for the collapse of their £25bn merger deal.
Defence Secretary Philip Hammond said a "number of things" stopped the merger deal between BAE Systems and EADS.
Mr Hammond added that despite the deal falling through, the British defence company still had a "great 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.