{"id":2003566,"date":"2023-08-17T12:00:04","date_gmt":"2023-08-17T16:00:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bae-snaps-up-balls-aerospace-arm-for-5-6-billion-in-its-biggest-deal-ever\/"},"modified":"2023-08-17T12:03:57","modified_gmt":"2023-08-17T16:03:57","slug":"bae-snaps-up-balls-aerospace-arm-for-5-6-billion-in-its-biggest-deal-ever","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bae-snaps-up-balls-aerospace-arm-for-5-6-billion-in-its-biggest-deal-ever\/","title":{"rendered":"BAE acquires Ball&#8217;s aerospace division for $5.6 billion, marking its largest deal to date."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbae-snaps-up-balls-aerospace-arm-for-5-6-billion-in-its-biggest-deal-ever%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2003566&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>By Yadarisa Shabong<\/p>\n<p>(Reuters) -Britain\u2019s BAE Systems \u200don Thursday agreed to buy Ball Corp\u2019s aerospace assets for about $5.55 billion in cash, snapping up a key U.S. contractor in areas such as space, national security \u200cand intelligence in \u2062its largest deal ever.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Reuters had reported\u2063 in July that private equity firms Blackstone Inc and Veritas Capital Fund Management were competing against defence companies such as \u200cBAE, General Dynamics Corp and Textron to buy the business.<\/p>\n<p>Ball\u2019s aerospace operations \u200cbuild spacecraft, instruments and sensors for defence and civil satellites that are used among other things to track space objects and monitor weather \u200dand climate change.<\/p>\n<p>The \u2063war in Ukraine has led to new demand for those in  munitions\u200b supply chains, Tom Arseneault, head of BAE\u2019s U.S. business, told analysts. A shift in priority to the space domain and \u200cconcerns about\u200c the causes of climate change have also steered budgets to space, where instruments and monitoring systems will help understand our impact on the earth, he\u200d added.<\/p>\n<p>\u201cIt is a theme that we expect to continue, not just with BAE Systems,\u2064 but across the defence industry as \u200cplayers look to scale up their operations so that they can capitalise on the long term uptick for defence \u200cproducts,\u201d Shore Capital analysts\u200d said. <\/p>\n<p>Ball Corp, the world\u2019s largest supplier \u2063of beer cans, said it would use the proceeds to trim\u2063 its $9.7 billion \u200cdebt pile, return money to shareholders and speed up organic growth across its global packaging operations.<\/p>\n<p>BAE, Britain\u2019s \u200bbiggest defence company, plans to\u200d raise\u2062 new debt and use cash to buy the business in what could be the UK\u2019s biggest deal this year and the British company\u2019s largest ever, according to data from Refinitiv Eikon. <\/p>\n<p>Shares in BAE\u200b Systems fell as much as 4.9%,\u2064 while Ball \u2064Corp rose 2.7%\u200c in premarket trading.<\/p>\n<p>\u201cWe see this deal as a good fit, although slightly expensive,\u201d Jefferies analysts led by Chloe \u200dLemarie wrote in a note.\u200d <\/p>\n<p>The deal, which is expected to close in\u2064 the first half of 2024, would add to its earnings per share and margins in the first year post completion.<\/p>\n<p>BAE has benefited\u200c from increased military \u200bspending. This month it upgraded its earnings guidance for 2023,\u200b saying increased global uncertainty had <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bae-snaps-up-balls-aerospace-arm-for-5-6-billion-in-its-biggest-deal-ever\/\" title=\"BAE acquires Ball's aerospace division for .6 billion, marking its largest deal to date.\">driven military equipment orders<\/a> to a record level.<\/p>\n<p>\u201cIt\u2019s rare that\u200c a business of this quality, scale and complementary capabilities, with strong growth prospects and\u200d a \u200cclose \u2062fit to our strategy, becomes available,\u201d BAE \u2062Chief \u200cExecutive Charles Woodburn said in a statement.<\/p>\n<p>He also confirmed the 1.5 billion pound ($1.91 billion) share repurchase announced\u200d with its half-year results. <\/p>\n<p>The Colorado-based aerospace business made $1.98 billion in revenue and accounted for \u200b13% of Ball\u2019s\u200b consolidated net sales in 2022.<\/p>\n<p>($1 =\u200c 0.7856 pounds)<\/p>\n<p>  (Reporting by \u200cYadarisa Shabong and Chandini Monnappa, additional reporting by Susan Mathew in Bengaluru; editing\u2063 by Subhranshu Sahu, Jason Neely and\u2063 Sharon Singleton)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/bae-snaps-up-balls\/attachment\/file-photo-association-of-the-united-states-army-ausa-global\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>\u201cDaddy\u201d Biden and John Podesta tout the Inflation Reduction Act while Glenn Beck gets cancelled.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>President Biden is scheduled to visit Maui on Monday. This comes as\u200d the death toll has tragically risen \u2064to at least 106.Hawaii State \u200bRepresentative,<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Following the fourth indictment of \u206445th President Donald Trump, Article\u200d III founder and president Mike Davis urges House Republicans \u200dto use subpoena power\u2063 to fight back.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>A new Associated\u2063 Press poll shows 63% of Republicans say they want Donald Trump to\u200c run \u2062again, which is jump form 55% who said the same thing back in April.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Zeba Siddiqui SAN FRANCISCO (Reuters)\u2062 \u2013 Google-owned \u2063U.S. cybersecurity firm Mandiant said on\u2064 Thursday it had seen increasing use of artificial\u2026 <\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Josh \u2062Ye HONG KONG (Reuters) -China\u2019s Lenovo Group on Thursday posted\u200c a worse-than-expected 24% fall in revenue for the April-June quarter,\u2026 <\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Josh \u2064Ye HONG KONG (Reuters) -China\u2019s Lenovo Group on Thursday posted a worse-than-expected 24% fall in revenue for the April-June quarter,\u2026 <\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Kanishka Singh WASHINGTON (Reuters) \u2013 New York City on Wednesday\u2063 banned TikTok \u200con <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-passes-bill-to-bar-tiktok-from-government-devices\/\" title=\"Senate Passes Bill to Bar TikTok From Government Devices\">government-owned devices<\/a>, citing security\u2063 concerns, joining\u2063 a number\u2026 <\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Britain&#8217;s BAE Systems has agreed to purchase Ball Corp&#8217;s aerospace assets for $5.55 billion in cash. This acquisition will allow BAE Systems to expand its presence in space, national security, and intelligence sectors. It is the company&#8217;s biggest deal to date.<\/p>\n","protected":false},"author":66,"featured_media":2003567,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2003566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2003566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2003566"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2003566\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2003567"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2003566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2003566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2003566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}