News

BAE and EADS merger collapses

(October 11, 2012)

The proposed merger of BAE Systems and EADS has collapsed after a deal couldn't be reached over the size of the French and German Governments stakes in EADS.

Mark said: "Political wrangling has outdone commercial logic, it would have made much more sense for the French and German Governments to reduce their stakes in the new company but having refused to do so it's only right and proper that the deal doesn't go ahead.

"If the deal had gone ahead in the way it was presented, the French and German Governments would have had the whiphand and that would have meant decisions were made on a political basis rather than on a commercial logic which could have meant jobs in Lancashire going across to Germany.

"I have and always will be committed to make sure, that the workers at BAE get the best deal possible, as these are skilled workers, working for a company which has a huge economic role in Lancashire."

GranadaMH

Mark has been leading on this issue, appearing on a variety of national and regional printed, televised and radio media. Any press enquiries please call 01772883575.

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