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The proposed merger between BAE Systems and the owner of Airbus, EADS, has been cancelled as discussions were terminated.
The deal between BAE, which has sites in Warton and Salmesbury, and the owners of Airbus, EADS, collapsed after the government failed to reach an agreement with its French and German counterparts.
The £28 billion merger would have created a defense titan with more than 220,000 staff.
Unite which represents more than 30,000 workers across the two companies says the deal would have protected the UK's long term interests.
Whereas local MPs across the Fylde and Lancashire think the collapse of the deal is positive for British industry.
Preston North and Wyre Conservative MP Ben Wallace has told Radio Wave he thinks scrapping the deal was the right move. Click on the link above to hear more.