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News Breaks
May 19, 2014
16:43 EDTBLLBall Corp. awarded NASA Earth Science HAWC-OAWL R&D contract
Ball Aerospace & Technologies Corp. has received a contract from NASA to build a High-spectral-Resolution-Lidar for Aerosols Winds and Clouds - Using the Optical Autocovariance Wind Lidar to help scientists better understand how the wind transport of aerosols and water vapor affect air quality and cloud formation. The existing OAWL technology has successfully flown on NASA-funded test flights. The three-year, $4.3M contract award for HAWC-OAWL will allow Ball Aerospace to adapt OAWL to measure profiles of aerosol properties simultaneously with profiles of wind speed and direction, and to demonstrate the full system performance with additional airborne flight testing.
News For BLL From The Last 14 Days
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February 19, 2015
12:45 EDTBLLOn The Fly: Midday Wrap
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08:01 EDTBLLBall Corp. to hold a conference call
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05:49 EDTBLLBall's proposed acquisition of Rexam valued at $8.4B
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05:47 EDTBLLBall Corp. confirms deal to acquire Rexam
The boards of Ball Corp. (BLL) and Rexam (REXMY) announced that they have reached agreement on the terms of a recommended offer for the entire issued and to be issued ordinary share capital of Rexam by Ball UK Acquisition Limited, a wholly-owned subsidiary of Ball. The Offer is to be effected by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act. Under the terms of the Offer, Rexam Ordinary Shareholders will be entitled to receive for each Rexam Ordinary Share held 407 pence in cash and 0.04568 of a New Ball share. Ball will provide a Mix and Match Facility, which will allow Rexam Ordinary Shareholders to elect to vary, subject to the availability of offsetting elections, the proportions in which they receive New Ball Shares and cash. In addition, Rexam Ordinary Shareholders will be entitled to the 2014 Final Dividend of 11.9 pence announced by Rexam today, subject to shareholder approval, and to any other dividends declared or paid by Rexam in respect of any completed six-month period ended 30 June or 31 December between the date of this announcement and the date of the day before the Effective Date consistent with Rexam's past practice, provided that such dividends do not exceed the corresponding interim or final dividend paid or declared in respect of 2014. The combination is expected to be accretive to earnings per share within the first full year of completion and is in line with Ball's strategy to increase Economic Value Added dollars or returns greater than its weighted average cost of capital on its larger average invested capital base. The combination is expected to foster meaningful EVA dollar growth over the medium term. The Ball Board has approved the Offer and intends to recommend unanimously that Ball Shareholders vote in favour of the Offer. The receipt of competition authority clearances in the E.U. and U.S. is a Pre-Condition to the Offer. In addition, Ball and Rexam have agreed that the absence of a requirement to make material divestitures in the E.U. and the U.S. on a combined basis is a Condition of the Offer. It is expected that the Scheme Document will be posted to Rexam Shareholders shortly after the satisfaction or waiver of the Pre-Condition. The Offer is expected to complete in the first half of 2016.

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