Boeing reportedly agrees to buy supplier Spirit Aerosystems for $4.3 billion

Boeing reportedly agrees to buy supplier Spirit Aerosystems for $4.3 billion

Boeing Co. has agreed to buy parts supplier Spirit Aerosystems Holdings Inc. in an all-stock deal worth more than $4 billion, Reuters reported Sunday.

Citing sources familiar with the matter, Reuters reported Boeing has agreed to pay $37.25 a share, valuing Spirit at $4.34 billion. Spirit shares closed Friday at $32.87 a share, for a market cap of $3.83 billion.

Reuters said the boards of the two companies came to terms Sunday, and an announcement is expected as soon as Monday.

“We are not commenting on speculation on this matter,” Spirit spokesperson Joe Buccino said Sunday. Boeing did not immediately respond to a request for comment.

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Spirit has been in buyout talks with Boeing, its largest customer, for months. Boeing reportedly revised its offer from all cash to all stock in late June.

In May, Spirit announced hundreds of layoffs due to a production slowdown of Boeing’s troubled 737 Max jetliners.

Spirit was once part of Boeing before it was spun off in 2005. Boeing would reportedly buy the portion of Spirit’s business that supplies its parts, and Spirit would divest the part of its business that supplies rival Airbus

Spirit shares are up about 3% year to date, while Boeing shares are down 30% in 2024.