BAE agrees to £1.87bn Airbus sale

[flynn]

UK-based defence firm BAE Systems has agreed to sell its 20% stake in plane maker Airbus to EADS for 2.75bn euros (£1.87bn; $3.53bn). <br /><br />If shareholders agree to the deal, pan-European EADS, which owns 80% of Airbus, will own the firm outright. <br /><br />The 13,000 Airbus workers in the UK - where the planes' wings are built - are not thought to be affected by the deal. <br /><br />Full story from BBC<br /><br />It looks like BAE will be keeping the part of the workshare deal giving them the manufacture to Airbuses wings, if this is the case this could be a good deal for them.<br /><br />This deal also gives BAE about £1bn in their pocket (after a dividend to the share holders) and they are not a company to sit on that sort of money. They have been linked with mergers to Lockheed in the past, it will be interesting to see what purchases they make in the coming months. <div class="Discussion_UserSignature"> <font color="#800080">"All God does is watch us and kill us when we get boring. We must never, ever be boring" - <strong>Chuck Palahniuk</strong>.</font> </div>