Ball Corp. agrees to sell aerospace segment to BAE Systems for $5.555B cash

BALL Corp

Purchase price of $5,555,000,000 in cash for the aerospace business; closing subject to regulatory approvals including HSR, CFIUS, and defense agency clearances.
Outside date for closing is August 16, 2024, extendable to February 16, 2025, under certain conditions.
Ball is entitled to a $100 million termination fee if the agreement is terminated due to failure to receive regulatory approvals by the outside date.
Ball intends to transfer sponsorship of the Business Pension Plan to a Business entity prior to closing; other Ball pension plans remain unchanged.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BALL Corp entered into Stock Purchase Agreement with BAE Systems, Inc. valued at $5,555,000,000 (effective 2023-08-16).

Action: entry
Agreement: asset purchase
Counterparty: BAE Systems, Inc.
Value: $5,555,000,000
Effective: 2023-08-16

Exact text from the filing

On August 16, 2023, Ball Corporation (“Ball”) entered into a Stock Purchase Agreement (the “Agreement”) with BAE Systems, Inc., a Delaware corporation (“Purchaser”), and, solely for purposes set forth therein, BAE Systems plc, a United Kingdom public limited company (“Purchaser Guarantor”), pursuant to which, among other things, Purchaser will acquire Ball’s aerospace business segment (the “Business”) by acquiring all of the outstanding equity interests in the entities that own and operate the Business (the “Transaction”).

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Source: SEC EDGAR

accession 0000009389-23-000031

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