Invesco Perpetual, BAE Systems' largest shareholder, will today publicly announce opposition to a proposed merger with aerospace group EADS, according to reports.
The Financial Times reports Invesco Perpetual will release a statement to the market today voicing its opposition to the deal. The group will argue the merger will materially jeopardise BAE's unique and privileged position in the US defence market. In the statement, Invesco will state it "cannot understand the strategic logic for the proposed combination". It will say BAE's low rating offers "significant standalone upside value for its existing shareholders", without the merger taking place. Neil Woodford, head of equities at the group, has previously voiced his opposition to BA...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes