Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

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We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

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We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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Wednesday 10 October, 2012


Merger Update

RNS Number : 3955O
10 October 2012

10 October 2012







BAE Systems plc and EADS N.V.

Termination of talks regarding the
possible merger of BAE Systems and EADS



Following the announcements made by BAE Systems plc ("BAE Systems") and EADS N.V. ("EADS") on 12 September 2012 in relation to a possible combination of their businesses through a dual listed company structure, BAE Systems and EADS announce that they have decided to terminate their discussions.


BAE Systems and EADS believe that the merger was based on sound industrial logic.  It represented a unique opportunity to create a combination from two strong and successful companies greater than the sum of the parts. The merger would have produced a combined business that would have been a technology leader and a greater force for competition and growth across both the commercial aerospace and defence sectors and which would have delivered tangible benefits to all stakeholders. Discussions with the relevant governments had not reached a point where both companies could fully disclose the benefits and detailed business case for this merger. BAE Systems and EADS are, however, confident that these would have provided a strong case to take to their shareholders.


As between themselves, BAE Systems and EADS had agreed the principal terms of the merger, subject to the approval of their respective Boards, including:


·      The commercial terms of the merger;

·      The legal structure of the merger;

·      Governance arrangements which would enable the combined business to operate in a normal commercial manner;

·      A unified management and Board structure;

·      The strategy for the combined business;

·      Near-term dividend policy;

·      The cost saving and revenue benefits of the combination and associated implementation plan.


From the outset of discussions between the parties, both BAE Systems and EADS were clear that they would proceed with a merger of their businesses only if a transaction structure could be created that aligned the interests of the parties' stakeholders and received their support. BAE Systems and EADS worked constructively to deliver such a structure. 


Notwithstanding a great deal of constructive and professional engagement with the respective governments over recent weeks, it has become clear that the interests of the parties' government stakeholders cannot be adequately reconciled with each other or with the objectives that BAE Systems and EADS established for the merger. BAE Systems and EADS have therefore decided it is in the best interests of their companies and shareholders to terminate the discussions and to continue to focus on delivering their respective strategies.


Ian King, Chief Executive of BAE Systems, today said:


"We are obviously disappointed that we were unable to reach an acceptable agreement with our various government stakeholders.  We believe the merger presented a unique opportunity for BAE Systems and EADS to combine two world class and complementary businesses to create a world leading aerospace, defence and security group.


However, our business remains strong and financially robust. We continue to see opportunities across our platforms and services offerings and in the various international markets in which we operate.  We remain committed to delivering total shareholder value and look to the future with confidence."


Tom Enders, Chief Executive of EADS, today said:


"I'd like to thank everybody who supported us, in particular all the colleagues at BAE Systems and EADS for all their hard work and dedication to this project in recent months. A special thank-you goes to Ian King for his trust and partnership. It is, of course, a pity we didn't succeed but I'm glad we tried. I'm sure there will be other challenges we'll tackle together in the future. EADS will continue on its international growth path and our shareholders can continue to expect profitable growth, excellent liquidity and programme execution based on a strong order book."




BAE Systems


For Investors:

Andrew Wrathall, Head of Investor Relations                                 Tel: +44 (0) 1252 383 455


For Media:

Charlotte Lambkin, Group Communications Director                      Tel: +44 (0) 78 0171 7739

John Suttle, Senior Vice President, Communications                    Tel: +1 (703) 344 8508




Rainer Ohler, Head of Group Communications                              Tel: +33 (0)5 81 91 81 38

Martin Agüera, Interim Head of Media Relations                            Tel: +49 (0)89 607 34735

Matthieu Duvelleroy, Media Relations France                                Tel: +33 (0)1 42 24 24 25


This announcement, which is being made with EADS consent, is made in accordance with Rule 2.8 of the City Code on Takeovers and Mergers (the "Takeover Code").


A copy of this announcement will be made available on BAE Systems' website at www.baesystems.comand EADS's website at



This announcement does not constitute an offer for sale of any securities or an offer or an invitation to purchase any securities in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the "Securities Act") or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will be no public offering of securities in the United States. Holders of BAE Systems securities or of EADS securities who are US persons or who are located in the United States are urged to read any relevant documents furnished or filed with the SEC because they contain important information. Any such documents furnished or filed with the SEC, will be available free of charge at the SEC's web site at


This information is provided by RNS
The company news service from the London Stock Exchange