Hashed out in three-way talks between plane giants and one of their key suppliers, Boeing's $4.7 billion deal to buy back Spirit AeroSystems is a rare triangular deal born out of crisis.
The main indexes kicked off the second half with a win thanks to solid gains in several mega-cap stocks.
Boeing announced plans to acquire key supplier Spirit AeroSystems for $4.7 billion, a move that it says will improve plane quality and safety amid increasing scrutiny by Congress, airlines and the Department of Justice.
“It was probably the first time in my life I had a feeling of no control over everything. I was in disbelief over the whole situation,” 40-year old Tran, a passenger on-board the January 5 Ontario-bound Alaska Airlines told BBC.
Spirit AeroSystems was a company little-known outside the aviation industry until January this year.
Boeing Co (NYSE:BA, ETR:BCO) has been handed an ultimatum by the US justice system: admit to fraud charges or face a public trial for the two fatal crashes of 737 max planes. The US Department of Justice said Boeing will have until Friday to admit its guilt.
Boeing (BA) announced a long-awaited deal Monday to reacquire parts supplier Spirit AeroSystems (SPR) as the troubled plane manufacturer looks to strengthen control of its supply chain.
Airbus has agreed to acquire assets of Spirit AeroSystems for $1. It will also be compensated with $559 million from the aviation manufacturer.
Boeing said it reached a deal to purchase Spirit AeroSystems for $4.7 billion, as the plane manufacturer attempts to shore up safety concerns following recent issues with certain jets.
Boeing Co (NYSE:BA) shares are set to fall on Monday after it agreed to buy Spirit AeroSystems in an all-share deal, bringing its parts supplier arm back into the group for a total cost of $8.3 billion. The US aerospace company will buy "substantially all" of commercial operations related to its own aircraft, as well as additional commercial, defense and aftermarket operations.
Boeing Co. has agreed to purchase Spirit AeroSystems Holdings Inc. in an all-stock deal valued at $4.7 billion, or $37.25 per share, unwinding a two-decade separation. This strategic move aims to address ongoing manufacturing defects and streamline operations.
Boeing agreed to acquire Sprit Aero for $37.25 a share in stock. The deal values Spirit at about $8 billion, including the company's debt.