Big And Expensive to Get Some Competition?

Taken from The Times, February 16, 2007

US defence giants hunt British takeover targets

Boeing and Lockheed Martin are eyeing British defence companies worth more than £5 billion
David Robertson, Business Correspondent

Boeing and Lockheed Martin are eyeing British defence companies worth more than £5 billion in an attempt to win orders from the Ministry of Defence, The Times has learnt.

The American defence giants are understood already to have independently approached, and been rebuffed by, Ultra Electronics, the £800 million battlefield-IT specialist.

They are also thought to be weighing potential bids for Cobham, Meggitt and Chemring.

The interest being shown by the Americans has put British defence companies on a collision course with the Government over the industry’s future.

Ran across this in the paper today and thought I'd see what the general arrse opinion on it was. :) Personally I think it would be a good thing if BAE finally started to get a bit of serious competition for some of the MoD work it seems to pick up almost by default. Granted even if they did move into the UK defence market it wouldn't happen for a number of years and they've got their own experiences of cost overruns and the like with US contracts, but providing it was done through UK subsidiaries with the work being done here I can't see anything at first glance against the idea. Or am I being as thick as my namesake and missing some of the obvious major pitfalls? :)
They will buy it up and ship the technology to the good ol USA, good bye jobs and development for the future
There have been several fairly longstanding rumours that Boeing and Lockheed would in fact like to buy or buy into BAE (one of the ahem... slightly wilder theories was that Lockheed wanted to get an 'in' to the Typhoon, so they could offer the F-22 at the top of the range and the Typhoon as the F-15C replacement, thus leaving Boeing with the F/A-18E...).

IIRC, BAE's decision to sell its share in Airbus was interpreted by some observers as being a bid to make itself more attractive to Boeing.

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