BAE Systems was formed from a merger between the former British Aircraft Corporation, several shipbuilders, and Royal Ordnance, the British army’s munitions business which dates back to the sixteenth century. BAE manufactures aircraft, ships, armoured vehicles, missiles, electronics, and cyber security systems. It employs 110,000 people in over 40 countries, and with a market cap of US$81 billion is the largest European defense business. BAESY is an American Depository, and represents four shares of the underlying stock.
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