Wednesday, October 17, 2012

Crony Capitalism kills EADS-BAE merger

Government interference kills business opportunity--

EADS, BAE call off world's biggest arms merger | Reuters: "The merger hinged on France and Germany accepting a more limited role in the combined firm than they have wielded in the past at EADS, maker of Airbus aircraft. In the end, it was Berlin, rather than Paris, that proved the problem. "We had clear red lines that we were not willing to go beyond, relative to engagement and involvement of governments," BAE's CEO Ian King said. "If that was going to impinge on our ability to commercially run this new merged organization, and support and develop our existing business, then we wouldn't go to that point, and that is where we are today.""

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