BAE Systems plc (LSE:BA.) completed the acquisition of Airborne Tactical Radios Business from Raytheon Company.
The transaction is subject to successful closure of the Raytheon-United Technologies Corporation (UTC) merger, regulatory approvals, anti-trust approval and other customary closing conditions. The transaction is expected to be immediately earnings and cash flow accretive, and achieve a return on invested capital in excess of cost of capital in the first full year post completion.
Clare O'brien, Sean Skiffington, David A. Higbee, Ben Gris, Jordan Altman, John J. Cannon, Laurence Bambino, Derek Kershaw, Robert S. Larussa, Jason Pratt and Lisa Raisner from Shearman & Sterling LLP acted as legal advisor for Raytheon on the sale. Brian Link, Kevin Cox and Stephen Edelman of Citigroup Inc. (NYSE:C) provided banking advise to Raytheon Company. Sarah Kahn, Paolo Morante and Alice Eldridge of DLA Piper LLP (US) acted as legal advisers to Raytheon Company. Edward Lee and Joshua Cammaker of Wachtell, Lipton, Rosen & Katz LLP acted as legal advisers to Raytheon Company. KippsDeSanto & Co. acted as financial advisor to Airborne Tactical Radios Business of Raytheon Company.
BAE Systems plc (LSE:BA.) completed the acquisition of Airborne Tactical Radios Business of Raytheon Company (NYSE:RTN) on May 2, 2020. Regulatory and other customary approvals have been received. Merrill Lynch International acted as financial advisor to BAE Systems plc (LSE:BA.).