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Vector Aerospace confirms international business negotiations

Vector Aerospace has confirmed it is conducting business negotiations with EADS.

28 March 2011

Vector Aerospace has confirmed its entry into international business negotiations with Paris-based EADS NV.

In a move that could see merger and acquisition consultants called in, the Canadian company issued a statement in response to Market Surveillance on the state of its review.

"In the context of this process, the special committee of the Board of Directors of the Corporation has received several non-binding expressions of interest and after reviewing them the Corporation has entered into an exclusivity agreement with EADS," it said.

Vector Aerospace explained that any transaction will be subject to the finalisation of these business negotiations and claimed there is "no assurance" that they will result in a binding offer.

The firm noted that a special committee of the Board of Directors has sought "expressions of interest" from a wide range of parties.

Canada's TMX Group recently announced it would be merging with the London Stock Exchange in February this year.

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