BAE terminate acquisition of Marine Hydraulics International

BAE Systems have terminated an agreement to acquire Marine Hydraulics International (MHI) along with American Maritime Holdings, saying that the conditions to closing agreed in November 2012 have not been satisfied.

MHI is a marine repair, overhaul, and conversion company serving the US Navy, Military Sealift Command, Maritime Administration and commercial ship owners and operators worldwide, employing around 400 people and would have been integrated with the BAE Systems Ship Repair business.

It's not clear yet which conditions have not been satisfied.