BAE to return Eurofighter deal cash to investors In May last year, the newspaper said Invesco's top fund manager Neil Woodford wrote to chairman Dick Olver. The letter, which it had seen, criticised the company for considering takeovers rather than share buybacks and in it Mr Woodford said he would consider all options including a push to replace the board. The newspaper claims a number of top investors it spoke to supported Invesco's call for a focus on shareholder value, but stopped short of calling for management shake-up. BAE declined to comment on the report. Invesco was not immediately available to comment. Speaking to The Sunday Telegraph, Ian King, the chief executive of BAE Systems, revealed that the agreement was one of the UK's national security "red lines" on the failed £28bn deal. Forever, a Brit," Mr King revealed, saying that the post would have been based in the UK, along with the chief financial officer. He said BAE was known as "the avenger" in Germany, a phrase he said was used critically in the country. Mr King said that the ending of the deal negotiations had not damaged the reputation of BAE, as it still had a "vibrant Plan A," the original strategy presented to investors before news of the possible merger leaked.