Jason's Feed
Oct 11, 2012

Arms maker BAE fights for growth after merger shot down

LONDON (Reuters) – Its $45 billion merger plan shot down, BAE Systems (BAES.L: Quote, Profile, Research, Stock Buzz) must now hunt growth elsewhere if the British arms maker is to find the cash needed to sustain big dividends and avert the possibility of a break-up.

CEO Ian King is under pressure to spur the search for new business with a lucrative deal in Saudi Arabia now seen as crucial to bolster the balance sheet.

Oct 10, 2012

Back to drawing board after Berlin halts BAE, EADS deal

BERLIN/LONDON, Oct 11 (Reuters) – Europe’s two biggest
aerospace firms will go back to the drawing board to find new
strategies after Germany stymied the world’s biggest arms and
aviation company merger.

Britain’s BAE Systems, which earns nearly half its revenue
selling arms to the Pentagon, could end up a takeover target
after failing to seal its $45 billion deal with the
Franco-German maker of Airbus civilian jets, EADS.

Oct 10, 2012

“Major Tom” brought to earth as Merkel says ‘Nein’

LONDON, Oct 10 (Reuters) – Tom Enders was flying high six
weeks ago; newly elevated to the top job at Europe’s EADS, his
secret merger deal to create the world’s biggest aerospace group
and rid himself of burdensome government meddling was preparing
for launch.

But when “Major Tom”, a pugnacious paratroop officer in the
German army reserve, took off to go hang-gliding in late August,
things began to go wrong. A painful crash that left his arms
strapped up, robot-style, kept him only briefly from work; but
it prevented him flying with Chancellor Angela Merkel on a trip
to China where he might have hoped to win her as an ally.

Oct 10, 2012

EADS, BAE call off world’s biggest arms merger

LONDON (Reuters) – EADS and BAE Systems called off the world’s largest defence and aviation merger on Wednesday, and sources close to the talks blamed Germany for wrecking the $45 billion deal.

BAE said it had become clear that the interests of the French, British and German governments could not be reconciled with each other or with the objectives that BAE and EADS established for the merger.

Oct 10, 2012

EADS, BAE in last-ditch struggle to save merger

LONDON, Oct 10 (Reuters) – EADS and BAE Systems
are engaged in a final push to rescue their $45 billion
aerospace merger from the political jockeying that threatens to
sink it, as doubts grow over German backing for the deal.

The European companies have until 1600 GMT on Wednesday to
declare their intentions and either scrap their merger or ask UK
regulators for more time or finalise their plans to create the
world’s largest aerospace and arms group.

Oct 10, 2012

EADS, BAE fight lengthening odds to save merger

LONDON, Oct 10 (Reuters) – EADS and BAE Systems
are making one last effort ahead of a deadline to
breathe life into a troubled $45 billion aerospace merger, as
doubts grow over German backing for the deal.

The European companies have until 1600 GMT on Wednesday to
declare their intentions and either scrap their merger or ask UK
regulators for more time to finalise their plans to create the
world’s largest aerospace and arms group.

Jan 6, 2010
via UK News

Will the grope lobby thwart better air safety?

Photo

UK Home Secretary Alan Johnson said that London’s Heathrow would get body scanners this month to step up safety. Amsterdam’s airport operator made a similar announcement on Monday and others in Europe could follow.

That will go down like a lead balloon with the European Parliament, whose grope-fond members last year thwarted efforts to push ahead with more thorough passenger screening.