BAE Systems to buy Ball Aerospace
Posted: Sat, Aug 19, 2023, 11:49 AM ET (1549 GMT)
BAE Systems is buying Ball Aerospace for $5.55 billion. The companies announced early Thursday the deal, set to close in the first half of 2024 pending regulatory approvals. Ball Corporation expressed its intent to sell Ball Aerospace earlier this year to focus on its core packaging business, using the proceeds of the sale to reduce its debt. Colorado-based Ball Aerospace, with more than 5,200 employees, has provided satellites and instruments for many NASA, NOAA and national security space programs, generating an anticipated $2.2 billion in revenues this year.
BAE Systems is buying Ball Aerospace for $5.55 billion. The companies announced early Thursday the deal, set to close in the first half of 2024 pending regulatory approvals. Ball Corporation expressed its intent to sell Ball Aerospace earlier this year to focus on its core packaging business, using the proceeds of the sale to reduce its debt. Colorado-based Ball Aerospace, with more than 5,200 employees, has provided satellites and instruments for many NASA, NOAA and national security space programs, generating an anticipated $2.2 billion in revenues this year.
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