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MILAN (BBN) — Leonardo SpA (BIT:LDO) Chairman Gianni de Gennaro said a merger with listed UK defense giant BAE Systems (LSE:BA) “could be an idea” at a recent company event in Milan.
[Leonardo (BIT:LDO) Chairman Gianni de Gennaro tells Capitol Intelligence Group using CI Glass that merger with BAE Systems (LSE:BA) “could be an idea” during Leonardo Innovation awards with Leonardo CEO Alessandro Profumo at the Museo Leonardo Da Vinci in Milan. November 20, 2017]
De Gennaro’s openness to pursuing a full merger with BAE Systems marks a strategic departure for the listed Italian defense and civil aviation group and indicates the smaller national defense champion is now seeking a merger with a major European defense contractor.
BAE Systems, under pressure to find a strong European defense partner with the looming exit of the United Kingdom out of the EU on March 2019, has historic and close cultural ties with Rome-based Leonardo (formerly Finmeccanica).
BAE Systems spokesman Rowan Pearman declined to comment on any possible merger with Leonardo. Under the UK Takeover Panel code, a company cannot pursue a merger for at least six months following a denial of interest.
WASHINGTON/BALTIMORE (BBN) – (Updating on September 23, 2017 to add interview of Sean “Diddy” Combs by US House Financial Services Committee Ranking Member Rep.Maxine Waters (D-Calif.) — AT&T(NYSE: T) USD 85.4 bin dollar bid for Time Warner (NYSE: TWX) is seen marking the end of Alphabet (NYSE: Goog) and Facebook (NYSE:FB) dominant position in the US media market and heralding new antitrust action by the administration of President Donald Trump.
[21st Century Fox and News Corp Executive Chairman Rupert Murdoch speaks to Capitol Intelligence/Black Business News (BBN) using CI Glass on AT&T bid for Time Warner at The Wall Street Journal CEO Council Summit in Washington, DC. November 15, 2016]
The administration of Donald Trump is looking at taking long overdue antitrust action both by the US Department of Justice (DOJ) and US Federal Trade Commission (FTC) as the administration of Barack Obama gave a “free ride to Google, Facebook and Silicon Valley,” a Washington DC antitrust attorney close to the Trump transition team said.