After more than two years of talks, British Aerospace Dynamics and Matra of France have worked out commercial terms for combining their missile businesses in a new 50/50 joint venture called Matra BAe Dynamics, BAe reported yesterday. Regulators have yet to rule on the combination, the company noted, adding that "other conditions need to be satisfied before the joint venture can become effective." Under terms of the agreement, BAe Dynamics and Matra's missile unit will each ...

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