News Formal

BAE Buys a $5.6 Billion Aerospace Business: The London Rush

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 50%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Defense giant BAE Systems unveiled a blockbuster acquisition this morning, setting it up to be the largest deal this year by a UK-based company. It will pay $5.6 billion in cash to buy Ball Corp.’s aerospace unit, which manufactures instruments and sensors for everything from space travel to weather forecasting. The deal, which BAE says will boost its margins and earnings in the first year, may also stir investors’ hopes of a uptick in M&A activity during what tends to be a summer lull.

Eurofighter Typhoon fighter jet, manufactured by BAE Systems Plc, and other military aircraft during a visit by Romania's President Klaus Iohannis, Romania's Prime Minister Nicolae Ciuca, and Belgium's Prime Minister Alexander De Croo, to NATO forces at the Mihail Kogalniceanu Military Base in Constanta, Romania, on Wednesday, April 13, 2022.

The deal will be funded by a combination of new external debt and existing cash resources and is expected to be completed in the first half of 2024 Interestingly, the company’s Mecca bingo halls appear to be a hit with young people, with over 50% of new customers to the venues aged under 35 The company expects next year’s loss to narrow, guiding an adjusted Ebitda loss in the range of £45m to £55m off the back of growing output and salesFormer Labour leader Jeremy Corbyn urged his successor Keir Starmer to offer a bolder set of policies to voters as the UK opposition party seeks to return to government after more than a decade out of power. “Labour is too timid,” Corbyn, who was ejected in 2020 from the Parliamentary Labour Party by Starmer, told Bloomberg Radio.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BAE says $5.5 billion Ball Corp deal will help it meet Ukraine-led defence demandBy Muvija M LONDON (Reuters) - Britain's BAE Systems said its $5.5 billion purchase of Ball Corp's aerospace business would help it meet the soaring ...
Source: SaltWire Network - 🏆 45. / 63 Read more »

Implats expects considerably lower earnings owing to dollar metal price, logisticsJSE-listed Impala Platinum (Implats) expects its headline earnings for the year ended June 30 to decrease by between 38% and 44% year-on-year to between R18-billion and R20-billion and its headline earnings a share to decrease by between 39% and 45% to between R21.17 and R23.52.  Basic earnings for the period are expected to decrease by between 81% and 88% to between R4-billion and R6-billion and its earnings a share by between 82% and 88% to between R4.70 and R7.06.
Source: MiningWeeklyCA - 🏆 48. / 63 Read more »