Economic news

Boeing to buy Spirit Aero in $4.7 billion deal after months of talks

2024.07.01 00:35

-Boeing said on Monday it would buy its struggling supplier Spirit AeroSystems (NYSE:) in a $4.7 billion all-stock deal which was finalized after months of talks, as the aerospace giant tries to solve a full-blown safety and regulatory crisis that has engulfed its key supplier as well.

© Reuters. A Boeing 737 MAX-10 lands over the Spirit AeroSystems logo during a flying display at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 22, 2023. REUTERS/Benoit Tessier/ File Photo

The total transaction value is about $8.3 billion, including Spirit’s last reported net debt, Boeing (NYSE:) said, adding that Spirit shareholders will receive 0.25 Boeing shares for each of their Spirit shares if the volume-weighted average price is at or below $149.

Airbus and Spirit have also entered into a binding term sheet under which Airbus will acquire certain commercial work packages that Spirit performs for Airbus concurrently with the closing of the Boeing-Spirit merger, it added.



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