BAE declines comment on media report of merger talks collapse

British defense company BAE Systems declined to comment on a German DPA news agency report on Tuesday that said its $45 billion merger talks with Airbus parent firm EADS had collapsed.

The two companies are working toward a Wednesday deadline by which they must inform the UK Takeover Panel of their intention to proceed with, or drop, the negotiations.

(Reporting by Jason Neely; editing by Paul Sandle)