BAE Systems (BAES.L) has cancelled plans to sell part of its U.S. commercial aerospace unit, deciding instead to keep the unit after reviewing the business' performance. The British defence contractor, which hired JPMorgan Chase & Co (JPM.N) and Wells Fargo (WFC.N) to sell the business last September, said on Tuesday no sale had been agreed despite "considerable expressions of interest" and that it would no longer pursue the sale of the business. Bankers and analysts said the unit, which makes aerospace parts including aircraft engine controls, could fetch $1.5 billion to $2 billion for BAE. [ID:nN11121174] [ID:nLDE68C09D]
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