![](https://www.pymnts.com/wp-content/uploads/2019/10/shutterstock_514875412-2.jpg)
Boeing announced on Monday that it has entered into a definitive agreement to acquire Spirit AeroSystems in an all-stock transaction valued at approximately $4.7 billion, or $37.25 per share. Including Spirit’s last reported net debt, the total transaction value reaches approximately $8.3 billion, according to Boeing.
Boeing President and CEO Dave Calhoun highlighted the strategic importance of the merger. “We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders, and the country more broadly,” Calhoun stated. “By reintegrating Spirit, we can fully align our commercial production systems, including our Safety and Quality Management Systems, and our workforce to the same priorities, incentives, and outcomes—centered on safety and quality.”
The acquisition includes nearly all Boeing-related commercial operations of Spirit, as well as additional commercial, defense, and aftermarket operations. Boeing emphasized its commitment to maintaining operational continuity for Spirit’s customers and programs, including collaborations with the U.S. Department of Defense and Spirit’s defense customers.
In a related development, Airbus SE and Spirit have agreed on a binding term sheet under which Airbus will acquire certain commercial work packages currently performed by Spirit. This agreement is contingent upon the finalization of definitive agreements and regulatory approvals, and it will proceed concurrently with the closing of the Boeing-Spirit merger.
Moreover, Spirit plans to divest some of its operations, including facilities in Belfast, Northern Ireland; Prestwick, Scotland; and Subang, Malaysia.
The transaction is expected to close in mid-2025, subject to the sale of Spirit’s operations related to certain Airbus commercial work packages and the satisfaction of customary closing conditions, including regulatory and Spirit shareholder approvals.
Source: English News
Featured News
White & Case Appoints Rebecca Farrington as Co-Head of Global Antitrust Practice
Jul 1, 2024 by
CPI
Boeing Announces $8.3 Billion Definitive Agreement to Acquire Spirit AeroSystems
Jul 1, 2024 by
CPI
Bristol Myers Squibb Settles Israel Antitrust Case for $2.7 Million
Jul 1, 2024 by
CPI
French Antitrust Regulator to Charge Nvidia Over Alleged Anti-Competitive Practices
Jul 1, 2024 by
CPI
Antitrust Authority Fines Italian Soccer Federation €4.03 Million
Jul 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Private Equity Roll-Up Schemes
Jun 28, 2024 by
CPI
The FTC’s Focus on Private Equity is Warranted
Jun 28, 2024 by
CPI
Unraveling the Roll-Up: Private Equity’s Misunderstood Investment Strategy
Jun 28, 2024 by
CPI
Antitrust Focus on Private Equity Funds and Serial Acquisitions
Jun 28, 2024 by
CPI
Private Equity Roll-Ups Amidst Heightened Antitrust Enforcement
Jun 28, 2024 by
CPI