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BAE higher as Boeing mulls merger

BAE Systems (UK:BA: news, chart, profile), the British defense contractor, gained 2.5 percent as Boeing (BA: news, chart, profile) Chairman and CEO Phil Condit told the German newspaper Die Welt that BAE is an “interesting candidate” for a takeover, AFX reported. “We have looked at several possibilities in Europe. BAE Systems is an interesting candidate for a merger,” he said.

But he noted that because of cross-holdings prevalent in Europe, a straight merger is difficult to do. “Despite that, we are examining the possibility of acquiring a European company,” Condit said. Boeing closed 1.25 percent higher at $27.45.