16th Feb 2024 15:26
BAE Systems PLC - London-based defence company - Completes the acquisition of Ball Aerospace from Ball Corp. The acquisition closed at a purchase price of USD5.5 billion. The deal was first announced back in August, with regulatory approval granted on Wednesday.
Ball Aerospace is based in the US state of Colorado and has more than 5,200 employees. It provides spacecraft, mission payloads, and optical and antenna systems for the US Department of Defense, intelligence agencies, aerospace and defence prime contractors, and civilian space agencies. BAE said Ball Aerospace will be renamed Space & Mission Systems and will be included in its Electronic Systems reporting segment.
BAE will provide 2024 group guidance that includes the new acquisition with its 2023 results on Wednesday next week.
Current stock price:1,239.00 pence, up 1.1%
12-month change: up 40%
By Sophie Rose, Alliance News senior reporter
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