Major EADS shareholder Lagardere says BAE ‘s terms for the merger of the two companies are unsatisfactory, and says EADS must show how the deal will add value.
France’s Lagardere was a founder member of EADS and originally held 15% of the company, but sold half of its shares in 2005. It now wants to exit, but since the merger announcement its holding has lost 310 million euros in value. Analysts say its opposition is based on raising the share price so it can bail out on favourable terms.
Lagardere threatens to veto EADS/BAE deal