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EADS and BAE plan merger to take on Boeing

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Source: The Local

European aerospace giants EADS and BAE have less than a month from Thursday to clear big hurdles to a projected $45 billion merger and create a united front against US arch-rival Boeing.

“We have 28 days to complete the operation,” a close associate of EADS chief executive Tom Enders told AFP as the talks must meet the tight schedule imposed by the London stock exchange, but he expressed confidence that the deal would be reached as high level talks were “on the right path”.

But despite the optimism, shares in the companies plummeted on Thursday, with the stock price of EADS, the maker of the Airbus plane, down by 10 percent and weapons maker BAE Systems losing more than 7 percent.

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Posted by on September 14, 2012. Filed under Economics,Europe,European Union,Technology. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.