Eleventh-hour European politics brought to a screeching halt the planned merger of two of the continent’s most important high-tech companies, EADS (Paris: EAD) and BAE Systems (London: BA), an outcome that revealed the limits of European integration and scuttled a plan that would have benefited both companies. This was good news, however, for Boeing (NYSE: BA) since the merged company would have become the world’s largest aerospace manufacturer and a formidable competitor.

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