AeroVironment, Inc. (NASDAQ: AVAV) (AV) and BlueHalo LLC have announced the execution of a definitive agreement under which AV will acquire BlueHalo in an all-stock transaction with a combined enterprise value of US$9.5 billion, creating a more diversified global leader in all-domain defense technologies. The combined company will bring together complementary capabilities to offer a comprehensive portfolio of high-growth franchises, powered by cutting-edge technology and focused on addressing the most important priorities and needs of our nation and allies around the globe. The transaction, which has been unanimously approved by both companies’ board of directors or managers, is expected to close in the first half of calendar 2025, subject to regulatory and AV shareholder approvals, as well as other customary closing conditions.
Latham & Watkins LLP represents AeroVironment in the transaction with a corporate deal team led by New York/Orange County partner Charles Ruck, New York partner Leah Sauter, and Bay Area partner Tessa Bernhardt, with associates Shannon Cheng, Amy Lutfi, and Ashley Campfield. Advice was also provided on benefits and compensation matters by San Diego partner Holly Bauer and Washington, D.C. counsel Laura Szarmach, with associate Julie Voorhes; on labor and employment matters by Los Angeles partner Joseph Farrell; on intellectual property and data privacy matters by Bay Area partner Michelle Gross, with associates Amy Tosi, Julian Savelski, Kiara Vaughn, Karen Sung, and Gaby Forte; on capital markets matters by Chicago partner Scott Westhoff and Orange County partner Drew Capurro, with associates Andrew Rutsky and Kennedy Holmes; on finance matters by Los Angeles partner Mark Morris and New York/Los Angeles partner Nathan Whitaker, with associates Jennifer Chemtob and Kayla Matthews; on antitrust matters by Washington, D.C. partner Michael Egge and Hamburg partner Jana Dammann de Chapto, with associates Caitlin Fitzpatrick, Alexandra Kandalaft, Markus Welzenbach, and Christina Lantuh; on government contracts matters by Washington, D.C. partner Kyle Jefcoat; on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson, with associate Christina McLeod; on anti-corruption and anti-bribery matters by Washington, D.C. partner Erin Brown Jones; on trade controls matters by Washington, D.C. counsel Andrew Galdes, with associate Elliot Hecht; and on insurance matters by Los Angeles partner Harrison White, with associate Enrique Covarrubias.
