In a groundbreaking development, the U.S. Department of Justice (DOJ) has given its nod to BAE Systems PLC’s ambitious $5.6 billion acquisition of Ball Corp.’s aerospace subsidiary. This crucial approval marks the conclusion of the exhaustive review process, setting the stage for a monumental transaction, as announced jointly by the companies on Wednesday.
Antitrust Division Scrutiny Overcome
The DOJ’s Antitrust Division had thrown a curveball in November, demanding additional information regarding the acquisition. However, Ball Corp. revealed in a statement that the enforcers have officially concluded their review, allowing the waiting period to elapse.
BAE’s $5.6B Bid For Ball Aerospace Arm Clears Review : Swift Approvals Pave the Way
Prior to the DOJ’s decision, the Defense Counterintelligence and Security Agency and the Committee on Foreign Investments in the U.S. had already given their blessings to the deal. With all necessary approvals in place, the companies anticipate sealing the transaction “in the near term.”
BAE’s $5.6B Bid For Ball Aerospace Arm Clears Review : BAE’s Strategic Move
BAE Systems CEO, Charles Woodburn, expressed eagerness to proceed, emphasizing that the acquisition aligns with the company’s strategy to expand its portfolio of advanced technology. Woodburn asserted that the addition of Ball Aerospace’s technology-focused business would significantly enhance BAE’s presence in the critical space domain.
