Friday, September 14, 2012

Enders Arms EADS With BAE to Grab Boeing's Aerospace Crown

European Aeronautic, Defence & Space Co. Chief Executive Tom Enders, who beat his counterpart at Boeing Co. (BA) three years ago in a horse race in Wyoming, now has his eyes on a bigger prize: supremacy in global aerospace.

The 53-year-old German former paratrooper is seeking to combine EADS with British defense company BAE Systems Plc (BA/) to marry the largest maker of civil aircraft with Europe’s biggest defense contractor. EADS would own 60 percent and BAE the rest of a group that would topple Boeing from its pinnacle.

Melding civil aviation and defense would let Enders fulfill a 15-year-old aspiration to consolidate the European aerospace industry and loosen the shackles of political interference. Enders, who plotted the merger even before becoming CEO in June, must appease governments and sell the merger to investors who drove EADS down 10 percent yesterday.

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