(News Bulletin 247) – BAE Systems announces that it has entered into a definitive share purchase agreement to acquire the Ball Aerospace business, from Ball Corporation, for approximately $5.55 billion in cash, subject to customary closing adjustments .
The proposed stock transaction will be treated as an asset purchase with an expected net present value tax benefit of approximately $750 million, or underlying economic consideration for the company of approximately $4.8 billion. of dollars.
BAE Systems says the acquisition of Ball Aerospace, the leading provider of mission-critical space systems and defense technologies in the air, land and sea domains, is ‘a unique opportunity to strengthen its world-class multi-domain portfolio’.
“We couldn’t be happier to have reached this agreement and we look forward to welcoming Ball Aerospace employees to BAE Systems as we work together to support our customers and create shareholder value,” commented Charles. Woodburn, managing director of BAE Systems.
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