BAE sets 10-day deadline for troubled Airbus exit

BAE Systems, the UK defence company, is looking to draw a line under six months of controversy surrounding the £1.9bn (€2.8bn) disposal of its stake in its Airbus subsidiary by completing the deal next week, after it secured overwhelming shareholder support.

Investors representing 99.85% of BAE's shares yesterday voted in favour of the disposal at an extraordinary general meeting. BAE set a target to complete the deal by "not later than October 14", in line with the shareholder pact between itself, Airbus and EADS, the European defence and aerospace company.

WSJ Logo
110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the BrinkExternal link

110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the Brink