---
schema_version: "secwatch.filing_event.v1"
accession: "0000009389-23-000028"
form_type: "8-K"
ticker: "BALL"
cik: "0000009389"
company_name: "BALL Corp"
filed_at: "2023-08-17T23:59:59+00:00"
generated_at: "2026-06-11T08:11:14.706035+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Ball Sells Aerospace Business to BAE Systems for $5.6B in Cash

## Summary
- Price represents 19.6x Ball Aerospace's LTM comparable EBITDA as of June 30, 2023.
- After-tax net proceeds of ~$4.5B to reduce net debt to ~3.0x pro forma 2023 EBITDA.
- Transaction expected to close in first half of 2024, subject to regulatory approvals.
- Ball to accelerate share repurchases and dividends; focuses on global aluminum packaging.
- BAE Systems to invest further in Ball Aerospace; complementary cultural fit cited.

## SEC filing metadata
- accession: 0000009389-23-000028
- form_type: 8-K
- ticker: BALL
- cik: 0000009389
- company_name: BALL Corp
- filed_at: 2023-08-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/9389/000000938923000028/0000009389-23-000028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/9389/000000938923000028/ball-20230817x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000009389-23-000028
- JSON: https://secwatch.observer/filing/0000009389-23-000028.json
- Plain text: https://secwatch.observer/filing/0000009389-23-000028.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.