What will BAE's merger with EADS mean for UK defence?

EADS, the Franco-German aerospace firm, and BAE Systems, the UK’s largest defence company, are in discussions about a possible merger that will create a $48 billion aerospace and defence goliath. If the transaction takes place, which is likely to be 60% EADS-owned and 40% BAE, it will dwarf industry rivals Lockheed Martin and Boeing.The move has been (cautiously) welcomed by the British government despite fears that it will preface the declining fortunes of the UK defence and manufacturing indus...
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