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

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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.

 

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Источник: MiningWeeklyCA - 🏆 48. / 63 Прочитайте больше »