Hawker Beechcraft says takeover talks with Chinese company fail

Hawker Beechcraft Inc said it plans to emerge from bankruptcy as a standalone company after the failure of talks with Chinese aerospace firm Superior Aviation Beijing Co to take over the U.S. company.

The companies could not reach an agreement on the terms of a plan sponsorship agreement, Hawker said in a statement.

Hawker said in July it was in exclusive talks with the little-known Chinese firm over the sale of the company for $1.79 billion. (Reporting by A. Ananthalakshmi in Bangalore)