secwatch.observer — SEC 8-K summary
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Issuer:     BALL Corp (BALL)
CIK:        0000009389
Form:       8-K/A
Filed at:   2024-02-16T23:59:59+00:00
Accession:  0000009389-24-000020
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ball completes sale of Aerospace to BAE Systems for $5.6B; pro forma shows lower earnings
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- Completed on Feb 16, 2024 sale of Aerospace segment to BAE Systems for $5.6B; cash proceeds $5.47B.
- Pro forma net earnings for 9M ended Sep 30, 2023: $368M (diluted EPS $1.16) vs reported $553M ($1.74).
- Estimated pre-tax gain of ~$4.8B; transaction costs estimated at $85M, with $19M already incurred.
- Pro forma 2022 net earnings: $515M (diluted EPS $1.61) vs reported $719M ($2.25).
- Divestiture structured as asset sale for tax; estimated $1.0B current tax expense and $178M deferred tax reversal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/9389/000000938924000020/0000009389-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/9389/000000938924000020/ball-20240216x8ka.htm
  HTML page:      https://secwatch.observer/filing/0000009389-24-000020

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