Canvas Category OEM : Fabricated Metal


Primary Location Broomfield, Colorado, United States

Financial Status NYSE: BALL

Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services to commercial and governmental customers. Founded in 1880, the company employs more than 21,500 people worldwide. Ball Corporation stock is traded on the New York Stock Exchange under the ticker symbol BLL.

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✈️ Ball Announces Agreement to Sell Aerospace Business to BAE Systems for $5.6 Billion

📅 Date:

🔖 Topics: Acquisition

🏢 Organizations: BAE Systems, Ball

Ball Corporation (NYSE: BALL) the world’s leading producer of circular aluminum packaging for global beverage and household brands, announced that it has reached an agreement to sell its aerospace business to BAE Systems for gross proceeds of $5.6 billion in cash, which represents 19.6x Ball Aerospace’s LTM comparable EBITDA (as of June 30, 2023). The transaction, which is subject to regulatory approvals and customary closing conditions and adjustments, is projected to close in the first half of 2024.

BAE’s existing strong presence in the US allowed it to use a tax benefit to bring down the actual economic cost of the business, in effect reducing the price to $4.8bn.

Read more at PR Newswire