Ending of National Stakes Key To EADS-BAE Merger | Aviation International News

Ending of National Stakes Key To EADS-BAE Merger

EADS chief executive Tom Enders is trying to persuade the French and German governments to relinquish their major shareholdings as part of the merger process with BAE Systems. (Photo: EADS)

By Chris Pocock • Defense Correspondent

September 28, 2012

Senior officials from EADS and BAE Systems are hastening to secure agreement for their proposed 60-40 merger from key governments, after the premature leaking of the deal. They must specify full details by October 10, to satisfy UK stock market rules. It remains to be seen whether the German and especially French governments are willing to relinquish their 20-percent stakes and voting rights on the EADS board, in return for simple veto power over crucial decisions, similar to that already enjoyed by the British government in BAE Systems. If they do not sell, France and Germany will each hold about 9 percent of the merged company.

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