BAE Systems gets regulatory approvals for £4.4bn Ball Aerospace deal

14th Feb 2024 13:14

(Sharecast News) - BAE Systems said on Wednesday that it has now received all regulatory approvals necessary for its £4.4bn acquisition of Ball Aerospace from Ball Corporation and that the deal should complete in the coming days.

BAE announced last August that it had agreed to buy Ball Aerospace, which provides spacecraft, mission payloads, and optical and antenna systems.

The business has customer relationships in the Intelligence Community, US Department of Defense, civilian space agencies, and with major aerospace and defence primes, and "is well positioned in highly attractive markets", including military and civil space, C4ISR, and missiles and munitions, BAE said.

Chief executive Charles Woodburn said: "In recent years, we've said that we would seek out opportunities to grow our portfolio in advanced technology areas that meet our customers' most urgent needs, and completing the acquisition of Ball Aerospace is an example of that strategy in action.

"We look forward to welcoming the employees of Ball Aerospace to BAE Systems, bringing one of industry's most respected and capable businesses into the group. The addition of this quality, fast-growing technology-focused business will significantly expand our presence in this increasingly critical space domain and further enhances our value compounding model of top line growth, margin expansion and high cash generation."