BAE, EADS blast merger ‘myths and misconceptions’

Published October 1, 2012 10:07am ET



BERLIN (AP) — The chief executives of BAE Systems PLC and EADS NV sought to drum up support Monday for the merger of their two aeronautics and defense companies in the face of growing criticism to the deal, saying in a joint newspaper article an agreement would help both organizations grow.

The deal would create a global aerospace and defense giant with combined sales of more than €70 billion ($90.3 billion) and more than 220,000 employees. However the sector is facing challenges and uncertainties amid cuts to government defense budgets on both sides of the Atlantic.

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