Ball Announces Agreement to Sell Aerospace Business for $5.6B
Portfolio Pulse from Benzinga Newsdesk
Ball Corporation (NYSE:BALL) has announced an agreement to sell its aerospace business to BAE Systems for $5.6 billion in cash. The transaction, which represents 19.6x Ball Aerospace's LTM comparable EBITDA, is subject to regulatory approvals and is projected to close in the first half of 2024.
August 17, 2023 | 7:24 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Ball Corporation is selling its aerospace business to BAE Systems for $5.6 billion. The deal is expected to close in the first half of 2024.
The sale of Ball's aerospace business could potentially free up resources for the company to focus on its core business. This could lead to improved operational efficiency and profitability in the long run. However, the impact on the stock price in the short term will depend on how the market perceives this move.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100