BAE, EADS blast merger 'myths and misconceptions'

BERLIN (AP) ? The chief executives of BAE Systems and EADS are pushing for the merger of their two aeronautics and defense companies, saying in a joint editorial printed in Britain, France and Germany that it would create growth for both.

Some analysts have suggested that the two companies need the merger in order to save costs, but BAE's Ian King and EADS' Tom Enders said in the editorial Monday that the merger was "a chance, not a necessity" and blasted "myths and misconceptions" about the deal.

They say "with the necessary political will and support, management determination and proper governance, BAE Systems and EADS can produce a whole that is greater than the sum of its parts."

EADS is jointly French and German-owned while BAE is based in Britain.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-10-01-BAE-EADS/id-f65c50e06b9c4f79b3dbff61a89f0c78

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