News

BAE Systems to Acquire Ball Corp.’s Aerospace Business

1 Mins read

BAE Systems, the U.K. defense-and-aerospace group, announced on Thursday that it has reached an agreement to purchase Ball Corp.’s aerospace business for a cash amount of $5.55 billion. The transaction is expected to be completed in the first half of 2024, pending customary regulatory approvals and conditions.

Strengthening the Portfolio with Ball Aerospace

BAE Systems considers the acquisition of Ball Aerospace, based in Colorado, as a significant opportunity to enhance its portfolio. Ball Aerospace specializes in providing spacecraft, mission payloads, optical systems, and antenna systems. The company offers high revenue visibility and possesses a strong growth outlook.

Impressive Financial and Growth Prospects

BAE Systems anticipates that Ball Aerospace will generate approximately $2.2 billion in revenue and achieve adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of about $310 million in 2023. Moreover, it forecasts a remarkable compound annual growth rate of around 10% for the next five years, with promising growth prospects even beyond that period.

Funding the Acquisition

To finance the proposed acquisition, BAE Systems will utilize a combination of newly obtained external debt and its existing cash resources.


Related posts
News

Six Men Charged in $15M Crypto Kidnapping Case | China Crypto crime | CryptoRank.io

2 Mins read
Authorities have charged six men in connection with the October 2024 kidnapping of four people from a Chicago townhouse, forcing them to…
News

Fed Chair Jerome Powell Says No To US CBDC

1 Mins read
Following Trump’s executive order, Chairman Powell has vowed not to launch a digital dollar. Federal Reserve Chair Jerome Powell has made it…
NewsSavings

From TechBerry to DeepSeek: The Tale of Someone Who Revolutionized the Landscape of AI

2 Mins read
It was only some weeks ago that DeepSeek, the popular Chinese startup, introduced its AI model, which completely transformed and revolutionized the…

Leave a Reply

Your email address will not be published. Required fields are marked *