EADS Boss Tom Enders Say He'll Consider Job Guarantees if BAE Merger Happens
The head of Dutch aerospace giant EADS NV (IW 1000/59) on Thursday said he is prepared to discuss job guarantees if a controversial merger with British defense group BAE Systems PLC (IW 1000/158) gets the green light.
"I am so convinced of the merits of our project that I am prepared to talk about attractive job and headquarters guarantees that I could not consider for EADS [on its own]," CEO Tom Enders told the mass-circulation Bild newspaper in an interview.
"The merger of the two companies offers the best opportunities for German sites and jobs in the medium and long term," Enders said.
EADS and BAE Systems announced plans on Sept. 12 to create a $45 billion conglomerate to rival Boeing Co. (IW 1000/53).
The companies have until Oct. 10 to make a formal statement to the authorities to say that the deal is going ahead or being abandoned, or to request a delay.
But Berlin, Paris and London -- the latter of which has a "golden share" in BAE Systems -- each has a veto right on the merger negotiations, and the merger has run up against objections in all three countries.
According to a report in French daily Le Figaro on Tuesday, Berlin wants greater representation in the new firm, such as "for example the number of German administrators."
"We are offering France, Germany and Britain the same rights for the new company -- above all, a veto right against hostile takeovers," Enders said. "The governments don't need to pay a cent for this and can secure their interests."
Copyright Agence France-Presse, 2012
