Boeing is said to agree on Spirit AeroSystems takeover for $37.25 a share
- Boeing (NYSE:BA) agreed to acquire Spirit Aerosystems for $37.25 a share in an all-stock deal, Reuters reported Sunday, citing two unidentified people familiar with the matter.
- The deal values the supplier of fuselages, or the main bodies of airplanes, at more than $4 billion, Reuters said, citing the people.
- Boeing (BA) this year said it wanted to acquire Spirit (SPR) to gain more control over its supply chain amid ongoing safety issues.
- The acquisition would effectively reverse Boeing's (BA) spinoff of Spirit (SPR) in 2005 as a separate publicly traded company. At that time, Boeing (BA) had sought to cut costs by outsourcing the assembly of fuselages and other parts.
Boeing (BA) this year has faced greater scrutiny from aviation authorities and lawmakers after a midflight blowout of a door panel on a 737 Max 9 in January. The aviation giant took subsequent steps to revamp its safety procedures with the aim of increasing plane output eventually.