Vector deal talks

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THE aerospace group EADS has entered into an exclusivity agreement with Vector Aerospace, with a view to buying the company.

Vector Aerospace is based in Toronto, but has UK helicopter service operations at the Fleetlands site in Gosport.

Any deal is subject to due diligence and there is no guarantee that talks will result in a binding offer, EADS said.

Shares in Vector Aerospace, which has a market value just under $500m, were suspended in Toronto on Thursday.