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EADS Boss Mulls Job Guarantees After BAE Merger

Oct. 4, 2012 - 08:30AM   |  
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BERLIN — The head of European aerospace giant EADS on Oct. 4 said he was prepared to discuss job guarantees if a controversial merger with British defense group BAE Systems got 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),” 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 (35-billion-euro) giant to rival Boeing of the United States.

The companies have until Oct. 10 to make a formal statement to the authorities to say that the deal is going ahead, being abandoned, or to request a delay.

But Berlin, Paris and London — 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 Oct. 2, 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. The governments don’t need to pay a cent for this and can secure their interests,” said Enders.

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