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Proposed acquisition of Collins Aerospace’s Military GPS business

And Raytheon’s Airborne Tactical Radios business

BAE Systems announces that it has entered into a definitive Asset Purchase Agreement to acquire Collins Aerospace’s Military Global Positioning System business (“GPS business”) for $1.925bn in cash. As an asset purchase there is an expected tax benefit of c.$365m. The Company has also entered into a definitive Asset Purchase Agreement to acquire Raytheon’s Airborne Tactical Radios business (“Radios business”) for $275m in cash.  As an asset purchase there is an expected tax benefit of c.$50m. 

Completion of both acquisitions are subject to successful closure of the Raytheon-United Technologies Corporation (UTC) merger, as well as customary regulatory approvals and conditions. 

The industry participates at many important defence projects (F-35 Lightning II, Eurofighter Typhoon, BAE Mantis UAV aircraft and the new Queen Elizabeth class of aircraft carriers for the Royal Navy).

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