Listen to the audio version of the article
Boeing announced plans to acquire Spirit AeroSystems for $4.7 billion in an all-stock transaction. Boeing, based in Arlington, Virginia, announced the purchase in a statement late Sunday. The asset value of the $4.7 billion acquisition is $37.25 per share, while the total value of the deal is of about $8.3 billion, which includes Spirit’s last reported net debt, the aerospace company said. Spirit, based in Wichita, Kansas, makes key parts for Boeing planes.
Rival Airbus SE will also take over Spirit’s parts that produce components for its operations, with the European planemaker receiving $559 million to take over the assets, according to a separate statement.
“We believe this agreement is in the best interests of the public, our airline customers, Spirit and Boeing employees, our shareholders and the country at large,” Boeing Chief Executive Dave Calhoun said.
Boeing is seeking to regain full control of Spirit after a January crash aboard a 737 Max-9 jetliner exposed quality and manufacturing deficiencies at both Boeing and its most important supplier.
Boeing said it will take over “substantially all Boeing-related business operations,” as well as additional commercial, defense and aftermarket operations.
