ARLINGTON (dpa-AFX) - Aerospace and defense company, BAE Systems plc. (BA.L) Friday completed the acquisition of Ball Aerospace from Ball Cor. (BALL) for about $5.6 billion in a cash deal.
With the acquisition, BAE will enhance its product portfolio with space, science, and defense capabilities and will add more than 5,200 employees to its workforce.
The acquisition was funded by a combination of new external debt and existing cash from the business.
Currently, BAE's stock is trading at 1,238.50 pence, up 1.14 percent on the London Stock Exchange.
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