Invesco Perpetual to voice opposition to BAE merger

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...