Ball Corporation has received approval to finalize the sale of its aerospace business to BAE Systems for $5.6 billion. Initially announced in August 2023, the agreement was expected to conclude in the first half of 2024.
However, this week, Ball reported that the U.S. Department of Justice concluded its review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, allowing the review period to expire.
Alongside previous regulatory approvals from entities such as the Defence Counterintelligence and Security Agency and the Committee on Foreign Investments in the United States, both parties anticipate completing the transaction shortly.
Morgan Stanley & Co. LLC acted as Ball Corporation’s financial advisor. At the same time, legal and regulatory counsel was provided by Skadden, Arps, Slate, Meagher and Flom LLP and Axinn Veltrop and Harkrider LLP.
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