Boeing’s new head opens door to merger with BAE Systems
LONDON (AFX) – The new head of Boeing Co has given the most public
indication yet that the company is open to a 22 bln stg merger with BAE Systems
PLC, The Sunday Telegraph reported.
Harry Stonecipher, who took over as chief executive last week after the
resignation of Phil Condit, told The Telegraph that the group was still looking
for a transatlantic deal and described BAE as “the favourite partner”.
“We have tried hard to have a transatlantic tie-up over the years and we
continue to find we want to have a bigger presence around the world on the
continent and the UK,” the paper quoted him saying.
“We are looking for all kinds of expansion abroad and I am talking about
both an equity tie-up and joint ventures… Our relationship with BAE has been
ongoing and you could say that they are the favourite partner.”
No one was available for comment at BAE Systems today.
Separately, The Sunday Times reported that Boeing’s Stonecipher has given
his personal backing to the 7E7, the passenger jet viewed as crucial to the
company’s future.
The paper said he was “very forceful” supporter of the high-tech plane which
could cost more than 8 bln usd to develop.
[email]etain.lavelle@afxnews.com[/email]
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