BAE Systems acquisition of Collins Aerospace's Military GPS business
BAE bought Collins Aerospace's military GPS business in Iowa, divested to clear the Raytheon and United Technologies merger, adding anti-jam GPS to its Electronic Systems arm.
- Company
- Collins Aerospace Military GPS
- Type
- M&A
- Status
- Completed
- Date
- 31 Jul 2020
- Value
- US$1.93bn
- Value basis
- US$1.925bn in cash; expected tax benefit of about US$365m as an asset purchase
- Region
- US
- Segment
- Defence electronics
Parties
- BAE Systems buyer
- RTX seller
Key terms
- Structure
- Asset purchase
- Funding
- Bridge facility, refinanced by US$2bn of notes in September 2020
- Announced
- 20 Jan 2020
Sources
- BAE Systems RNS: proposed acquisition of Collins Aerospace's Military GPS business and Raytheon's Airborne Tactical Radios business investegate.co.uk · 20 Jan 2020
- BAE Systems: completes acquisition of military GPS business baesystems.com · 31 Jul 2020
Record DEF-INV-2020-0016. Investments are kept apart from the financings register and never counted in debt totals.
