A PYMNTS Company

EU: Head of largest arms maker keeps job despite merger failure

By  |  May 8, 2013

The chairman of Europe’s largest arms maker will remain in his position despite his failed attempt to merger with defense and aerospace company EADS. Chairman Dick Olver, head of BAE Systems, was approved to remain at the head of the company by shareholders; Olver will soon begin his tenth year as chairman. The news comes after the company’s largest investor, Invesco, urged the resignation of Olver in response to the botched $45 billion buyout plan. The merger failed last October.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.