BAE Systems in talks to buy Ball Corporation's aerospace unit - Bloomberg
British defense giant BAE Systems (LON:BAES) is in discussions regarding a potential acquisition of Ball Corporation's (NYSE:BALL) aerospace division, Bloomberg reported Wednesday.
A deal would be the year's largest acquisition by a UK firm, with a deal potentially valuing Ball's aerospace operations at more than $4 billion, Bloomberg said sources told them.
The London-listed company is discussing the terms of a possible takeover of the US packaging group's unit, which builds instruments and sensors for a variety of industries, including space travel and weather forecasting.
While talks are ongoing, the publication wrote that there's no certainty they will lead to an agreement, while another bidder could also emerge.
As governments have increased military spending, BAE shares have surged, climbing from below 400p per share during the pandemic, to over 1,000p. BALL shares are down 1% at the time of writing on Wednesday.
Read more on investing.com
