Chief executive Ian King and chairman Dick Olver were, after all, pursuing a deal that some BAE investors - notably its biggest, Invesco Perpetual - did not want.

BBC: BAE Systems: Where now for the UK's biggest manufacturer?

Mr Olver and chief executive Ian King have sought to reassure investors that the group can still "prosper in the future" despite the deal's collapse.

BBC: BAE Systems investors call on chairman Olver to go