Editor’s Note Editor’s Note Hello and welcome to October’s issue of Finance Monthly.
In the news this month, the BAE/EADS merger was called off, allegedly due to Germany’s Chancellor Angela Merkel refusing to endorse the deal. In a joint statement, the companies said they could not resolve government concerns.
According to UK newspaper The Guardian, sources close to the deal said that ‘Ms. Merkel had emerged as the most significant obstacle to this ambitious transaction’, while UK Chancellor George Osborne has been quoted to have said that talks between UK’s BAE and Franco-German EADS broke down ‘after the German government exercised a veto’.
The merger, worth $34bn, would have created the world’s biggest defence and aerospace company with 220,000 employees worldwide, making products from nuclear submarines to Typhoon fighter jets.
In a statement on BAE’s website, Ian King (Chief Executive of BAE Systems) said "We are obviously disappointed that we were unable to reach an acceptable agreement with our various government stakeholders. We believe the merger presented a unique opportunity for BAE Systems and EADS to combine two world class and complementary businesses to create a world leading aerospace, defence and security group."
After all the work trying to get Europe to come together, it seems that three of Europe’s biggest economies couldn’t agree on something as simple as a merger.
Also in the news, Sir James Dyson, British industrial designer and founder of the Dyson Company, has called on the UK Government to simplify the patent system so small businesses can afford to protect their designs. Finance Monthly spoke to experts from international law firms Grant Thornton LLP, Charles Russell LLP and Stephen Harwood LLP to see what their opinion was on this.
In this issue, we introduce two new features; Global Expert Guide and The Mining Sector. We also have our renowned features, including International Tax Board, Finance Focus and The Interview, as well as our regular features, including Moves, Transactions, and Preqin Reports.
I hope you enjoy this issue of Finance Monthly.
Rebecca Harris Editor
PuBLISHER Parity Media Limited
EDITOR Rebecca Harris
rebecca.harris@finance-monthly.com
PRODuCTION MANAGER Emma Tansey
production@finance-monthly.com
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