- With 220,000 staff worldwide - including 52,000 in the UK - and combined sales of £60 billion a merger would have created a new market leader bigger than Boeing in size.
- The merger would have combined BAE's defence expertise - including lucrative UK and US contracts - with Airbus parent EADS's leading position in the commercial aircraft and aerospace sector.
- Unions also supported the deal believing it would have created a stronger company to guarantee long term jobs.
- There were also hopes the merger would mean Airbus UK - which supports 140,000 British jobs - would remain on these shores.
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.