. 24/7 Space News .

EADS shares surge as shake-up deal nears
by Staff Writers
Paris (AFP) Dec 03, 2012

EADS, the parent company of aircraft maker Airbus, said Monday that it would protect shareholders' interests as talks towards a vast corporate revamp continued, helping to push the company's share price sharply higher.

In a statement, EADS, the European aerospace giant, confirmed press reports "that key shareholders are discussing potential changes in the company shareholding structure and corporate governance."

"The company is participating actively in such discussions... with the objective to preserve and enhance, where appropriate, the interests of all stakeholders, including shareholders, clients and employees."

Talk of an imminent shake-up deal helped shares in the European Aeronautic Defence and Space Company (EADS) jump by 2.14 percent to 26.44 euros on Monday, while the Paris CAC 40 index of leading shares gained a much more modest 0.26 percent.

Traders were cheered by the EADS assurance to protect shareholders, which was read as a signal that the company -- which is sitting on an 8.0-billion-euro ($10.4-billion) cash war chest -- would soon buy back some of its shares.

Conglomerate Lagardere of France and German automaker Daimler have made it known they wish to leave EADS, in which each company holds a stake of 12.5 percent.

But the imminent exits by Lagardere and Daimler upend a corporate structure carefully negotiated in 2000 by France, Germany and Spain to preserve national interests in a sensitive sector.

Reports in the Financial Times and Wall Street Journal said that EADS was planning a vast share-buyback programme to fill the shoes left by Lagardere and Daimler, which represented France and Germany respectively on the EADS board.

Knowledgeable sources told AFP that after the revamp, France and Germany would each hold 12 percent of a newly structured EADS.

A board meeting was held on Sunday to continue talks on a deal, sources said, adding that an announcement was imminent.

French President Francois Hollande, on the sidelines of a Franco-Italian summit, said that "a deal was close", but that it was "not yet completely signed".

A source told the French financial newspaper La Tribune that "owing to the large number of parties concerned and lawyers seated at the table, everything was not able to be tied up" on Monday, but that an announcement would be made after financial markets closed on Tuesday.

In October, a deal to merge EADS and British group BAE Systems and which appeared set to create the world's biggest aerospace and defence company fell through owing to unexpectedly strong opposition from Germany.


Related Links
The Military Industrial Complex at SpaceWar.com
Learn about the Superpowers of the 21st Century at SpaceWar.com

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Get Our Free Newsletters
Space - Defense - Environment - Energy - Solar - Nuclear


Year In Space 2013 Wall Calendar

China mourns manager of J-15 jet program
Beijing (UPI) Nov 30, 2012
Luo Yang, head of production for the new J-15 fighter, suffered a fatal heart attack while watching his aircraft aboard China's recently commissioned aircraft carrier. Luo, 51, was taken from the Liaoning carrier and was pronounced dead at a hospital, a report by the state-owned news agency Xinhua said. Luo was chairman and general manager of the Shenyang Aircraft Corp. Fl ... read more

China's Chang'e-3 to land on moon next year

Moon crater yields impact clues

Study: Moon basin formed by giant impact

NASA's LADEE Spacecraft Gets Final Science Instrument Installed

One Year After Launch, Curiosity Rover Busy on Mars

Fostering Curiosity: Mars Express relays rocky images

Matijevic Hill Survey Complete And Rover Passes 22 Miles Of Driving!

NASA monitors massive dust storm on Mars

Who's Killing the Space Program?

Fly me to the universe

UK Secures Billion Pound Package For Space Investment

Europe, U.S. talk space program link

Mr Xi in Space

China plans manned space launch in 2013: state media

China to launch manned spacecraft

Tiangong 1 Parked And Waiting As Shenzhou 10 Mission Prep Continues

It's a bird, it's a plane, it's... the Space Station

NASA, Roscosmos Assign Veteran Crew to Yearlong Space Station Mission

Three ISS crew return to Earth in Russian capsule

Station Crew Off Duty After Undocking

S. Korea readies new bid to join global space club

Arianespace ready for next Soyuz and Ariane missions

Who will challenge Dragon? Dragon spaceship postponed until March

South Korean rocket launch suspended

Magnesium oxide: From Earth to super-Earth

Rare image of Super-Jupiter sheds light on planet formation

Astronomers Directly Image Massive Star's 'Super-Jupiter'

NASA's Kepler Wraps Prime Mission, Begins Extension

Americans love (and hate) their mobile phones: survey

Experiment yields possible 'spooky' matter

ORNL develops lignin-based thermoplastic conversion process

New York art museum to display video games

The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement