BAE Systems holding board meeting over EADS merger plan: source

Reuters

The board of Britain's BAE Systems met on Tuesday ahead of a pending deadline in talks over a proposed $45 billion merger with Airbus parent EADS , a source familiar with the talks told Reuters.

The two companies have until 1600 GMT (1200 EDT) on Wednesday to decide whether to proceed with, or drop, talks on a merger aimed at creating the world's largest defense and aerospace company.

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(Reporting by Jane Barrett; editing by Rosalba O'Brien)