BAE gets clearance to close Ball Aerospace buy
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By
Ross Wilkers
The companies say they will be "executing steps in the coming days" to complete the transaction.
BAE Systems has cleared all regulatory approvals it needed to move on its approximately $5.5 billion acquisition of Ball Aerospace they first announced in August.
That means the parties will be "executing steps in the coming days" to complete the transaction, BAE said Wednesday.
Ball Aerospace's 5,200 employees will become a part of BAE's electronic systems segment and operate as its new Space & Mission Systems unit, which will be led by Ball Aerospace's current president Dr. Dave Kaufman.
When first disclosing the transaction, BAE cited increasing demand of space capabilities from defense buyers around the world as a driver of the move.
Multiple currents on the civilian front also are behind the purchase, including concerns about global warming and catastrophic weather events.
The Committee on Foreign Investment in the United States was among the regulatory agencies that looked at the acquisition, given BAE's global headquarters are in the U.K.