BAE Systems Acquires Ball Corp's Aerospace Arm for $5.6bn

BAE Systems, Britain's largest defense company, has agreed to acquire Ball Corp's aerospace assets for approximately $5.55 billion in cash. The deal will allow BAE to expand its presence in key areas such as national security and intelligence. Ball Corp, the world's largest supplier of beer cans, plans to use the proceeds to reduce its debt, return money to shareholders, and focus on its global packaging operations. BAE intends to fund the acquisition through new debt and existing cash. The deal is expected to close in the first half of 2024 and is seen as a good fit, although slightly expensive, according to analysts.