GD - Blackstone said to be among possible buyers of Ball's aerospace unit

2023-07-07 15:13:26 ET

Stephen Schwarzman’s Blackstone Group ( NYSE: BX ) and Veritas Capital Fund Management are vying with big defense companies to buy the aerospace business of Ball ( NYSE: BALL ), Reuters reported Friday, citing people familiar  with the matter.

Defense firms BAE Systems ( OTCPK:BAESF ) ( OTCPK:BAESY ), General Dynamics ( NYSE: GD ) and Textron ( NYSE: TXT ) also expressed interest in the business, which could be valued at more $5 billion, Reuters reported.

The aerospace unit last year made up 13% of consolidated net sales for Ball ( BALL ), which is the biggest maker of beer cans in the United States. The aerospace division provides aerospace and national defense hardware such as sensors and antennas, Reuters reported.

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