Hello, Guest!
  • Tuesday, April 23, 2024

Report: EADS CEO Tom Enders Tells Employees BAE Merger Talks ‘Constructive’

Discussions with governments on a potential merger between BAE Systems and EADS have been constructive, EADS’ CEO has reportedly told employees.

Bloomberg obtained a letter to EADS employees from CEO Tom Enders, where he said he was pleased with the progress of talks so far as the companies attempt to get government approval for the transaction, which Bloomberg values at $45 billion.

Enders believes the companies have little overlap with each other as EADS is one of the largest civil aviation firms while BAE is a large defense contractor, the letter reportedly says.

According to the story from Robert Wall and Andrea Rothman, German Chancellor Angela Merkel and French President Francois Hollande will meet in Germany this weekend to discuss the proposed merger.

France owns a 15 percent stake in EADS and the U.K. can veto any takeover of BAE, the report says.

The companies face an Oct. 10 deadline to either announce they will move forward with a merger or they are no longer interested in combining.

Video of the Day

Related Articles

Sigma Defense Buys Electronic Warfare Tech Company EWA; Matt Jones Quoted M&A Activity

Sigma Defense Buys Electronic Warfare Tech Company EWA; Matt Jones Quoted

Sigma Defense Systems, a portfolio company of Sagewind Capital, has moved to expand its Combined Joint All-Domain Command and Control capabilities with its acquisition of Herndon, Virginia-based electronic warfare systems provider EWA. EWA was founded by President and CEO Carl Guerreri in 1977 to bring electronic warfare platforms, threat simulators, testing and training support and

Arcline Investment Management Closes $1.8B Kaman Acquisition; Ian Walsh Quoted M&A Activity

Arcline Investment Management Closes $1.8B Kaman Acquisition; Ian Walsh Quoted

Private equity firm Arcline Investment Management has completed its purchase of aerospace and defense contractor Kaman for approximately $1.8 billion, or $46 per share in cash. With the completion of the acquisition, Bloomfield, Connecticut-based Kaman has stopped trading its common stock on the New York Stock Exchange, according to a joint release published Friday. Arcline

Bernhard Capital’s DOE Services Platform Buys Nuclear Security Consulting Firm SMSI; Chris Dillon Quoted M&A Activity

Bernhard Capital’s DOE Services Platform Buys Nuclear Security Consulting Firm SMSI; Chris Dillon Quoted

The Department of Energy services platform of private equity management firm Bernhard Capital Partners has acquired federal technical consulting services provider Strategic Management Solutions for an undisclosed sum. Albuquerque, New Mexico-based SMSI has more than 400 employees and has been providing program management and project support services to DOE, National Nuclear Security Administration, national laboratories