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  • Monday, April 29, 2024
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Report: Ball’s Aerospace Unit Draws Interest From Private Equity Firms, Defense Companies

Private equity firms Blackstone (NYSE: BX) and Veritas Capital Fund Management and major defense contractors such as General Dynamics (NYSE: GD), BAE Systems and Textron (NYSE: TXT) have expressed interest in acquiring Ball Corp.’s (NYSE: BALL) aerospace business, which could be valued at more than $5 billion, Reuters reported Friday.

The report said Ball could solicit final bids by the end of July for the aerospace business, which constituted 13 percent of the Westminster, Colorado-based company’s 2022 net sales.

Established during the 1950s, the aerospace unit provides sensors, antennas and other defense hardware and has become a key contractor in intelligence and national security programs, aerial exploration and Earth science, among other areas.

In June, Ball issued a statement saying it was considering options for its aerospace segment as part of efforts to generate value for shareholders and clients.

The statement came days after the news wire agency reported that Ball started exploring potential buyers through an auction process.

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