BAESY - Ball's aerospace sale said to receive interest from Advent Blue Origin
2023-07-19 18:20:14 ET
Ball ( NYSE: BALL ) is the second round of evaluating bids for its aerospace business, Dealreporter reported Wednesday, citing people familiar with the matter. Private-equity firm Advent International and Jeff Bezos’s space-exploration company Blue Origin are among the potential buyers of the unit, the sources said.
Lockheed Martin ( LMT ) is not bidding for the business because of antitrust concerns, Dealreporter reported.
Advent International had $92 billion under management at the end of last year, according to its website. Its portfolio includes satellite imagery company Maxar Technologies, which this year was taken private in a $4 billion deal.
Blue Origin and its partners this year were chosen by the National Aeronautics and Space Administration as the second maker of a moon lander for upcoming Artemis missions. Elon Musk's SpaceX is building two other moon landers.
The latest report about Ball's ( BALL ) sale of its aerospace business comes two weeks after Reuters reported that Stephen Schwarzman’s Blackstone Group ( BX ) and Veritas Capital Fund Management were bidding against defense companies BAE Systems ( OTCPK:BAESF ) ( OTCPK:BAESY ), General Dynamics ( GD ) and Textron ( TXT ).
Ball ( BALL ), the world’s biggest maker of beer cans, may receive $5 billion for its aerospace division. The unit makes hardware such as sensors and antennas for aircraft.
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Ball’s aerospace sale said to receive interest from Advent, Blue Origin