ARLINGTON, Va. (AP) — Boeing announced plans to aquire Spirit AeroSystems for $4.7 billion in an all-stock transaction for the manufacturing firm, which already was part of the aerospace company's manufacturing chain.
ARLINGTON, Va. — Boeing announced plans to aquire Spirit AeroSystems for $4.7 billion in an all-stock transaction for the manufacturing firm, which already was part of the aerospace company's manufacturing chain.The acquisition's equity value of $4.7 billion is $37.25 per share, while the total value of the deal is around $8.3 billion, which includes Spirit’s last reported net debt, the aerospace company said.
“We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders and the country more broadly,” Boeing President and CEO Dave Calhoun said in the statement. “By reintegrating Spirit, we can fully align our commercial production systems, including our Safety and Quality Management Systems, and our workforce to the same priorities, incentives and outcomes — centered on safety and quality," Calhoun said.
Concerns about safety came to a head after the Jan. 5 blowout of a panel on an Alaska 737 Max 9 at 16,000 feet over Oregon. The Federal Aviation Administration soon after announced increased oversight of Boeing and Spirit.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Boeing announces purchase of Spirit AeroSystems for $4.7 billion in stockARLINGTON, Va. (AP) — Boeing announced plans to aquire Spirit AeroSystems for $4.7 billion in an all-stock transaction for the manufacturing firm.
Read more »
Boeing reportedly offers to buy Spirit AeroSystems for about $35 a shareThe per-share offer represents a premium of nearly 6% over Spirit’s stock closing price on Monday and a 22.4% upside to its closing price on Feb. 29
Read more »
Boeing Agrees to Buy Spirit Aero for $4.7 Billion in Stock DealBoeing Co. agreed Sunday to purchase Spirit AeroSystems Holdings Inc. for $37.25 per share in an all-stock deal that values the company at $4.7 billion, according to people with knowledge of the transaction.
Read more »
Boeing Agrees to Buy Spirit Aero for $4.7 Billion in Stock Deal(Bloomberg) -- Boeing Co. agreed Sunday to purchase Spirit AeroSystems Holdings Inc. for $37.25 per share in an all-stock deal that values the company at...
Read more »
Boeing to buy Spirit Aero in $4.7 billion deal after months of talks-Boeing said on Monday it would buy its struggling supplier Spirit AeroSystems in a $4.7 billion all-stock deal which was finalized after months of talks, as...
Read more »
Boeing agrees to buy Spirit Aero for US$4.7-billionBoeing decided to buy back Spirit after Jan. 5 accident where door plug blew out mid-flight
Read more »