BAE Systems has entered into a definitive Stock Purchase Agreement to acquire Ball Aerospace from Ball Corporation for approximately $5.55 billion in cash. The acquisition will be treated as an asset purchase for tax purposes, with an expected net present value tax benefit of approximately $750 million. Ball Aerospace is a leading provider of mission-critical space systems and defense technologies across air, land, and sea domains. It has strong growth potential in areas aligned with the US Intelligence Community and Department of Defense's highest priorities. The acquisition will add material scale and high-caliber space, optical, and antenna solutions to BAE Systems' portfolio. It is expected to be accretive to margins, earnings per share, and cash flow per share in the first year post-completion. The acquisition will be funded by a combination of new external debt and existing cash resources.