I still cannot see it happening, and if by some remote chance it does, I see a remote chance of it being a success. In my time, BA was in the ring for a merger with United, USAir, AA, KLM, Sabena, Alitalia, Iberia (previously).....there were more, many more, but they have gone in the mists of time!
Unlike AF/KLM, and I still marvel at the success of that amalgamation of Catholic and Protestant cultures, but still don't feel it will last, I think BA will find it difficult to amalgamate. It still has the best worldwide connections, but with a moronic government determined to stamp out 'evil' air travel and use it to raise tax revenue under the guise of 'green' taxes, the predominance of LHR is slowly vanishing and the central axis of European travel moves to a Frankfurt/Amsterdam/Paris axis. Sad, but with a stupid hostile government strangling BA at Heathrow, BA is in for a very hard time. It won't be long before people sort out shorthaul flights out of the UK to join a longhaul flight out of Europe not subject to the disgraceful tax raising of this government. Then BA goes under!