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 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.
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.