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BAE Considers Share Buyback Amid Invesco Pressure, Times Says

Oct. 14 (Bloomberg) -- BAE Systems considers share buyback using proceeds from 7b pound ($11.3b) business with Saudi Arabia amid pressure from Invesco, Sunday Times says, citing letter from fund manager. * Invesco, holder of 13.4% stake, seeks support from other shareholders amid failure of merger talks between BAE, EADS * Neil Woodford, a portfolio manager at Invesco, wrote to BAE Chairman Dick Olver in May 2012 criticizing co. for considering takeovers instead of buybacks: Times * Letter cited by Times shows Woodford may push to replace board * Twenty biggest investors in BAE tell newspaper they support push for focus on shareholder value, without calling for departure of directors * Link to Story: { 4 7372.ece}

To contact the reporter on this story: Grant Smith in London at

To contact the editor responsible for this story: Bruce Stanley at

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