On June 24th, Boeing has proposed an acquisition of Spirit AeroSystems Holdings in a deal primarily structured through stock transactions, according to Bloomberg News sources familiar with the matter. The offer values Spirit AeroSystems at approximately $35 per share, marking a premium of nearly 6% over Spirit’s closing stock price of $33.07 on Monday and a 22.4% increase over its closing price on February 29th, the day before Boeing’s interest became public.
Originally considering an all-cash offer, Boeing has now revised its proposal, which is still under negotiation and may include a minor cash component, Bloomberg reported. An official announcement of the deal is anticipated in the coming days.
Spirit AeroSystems, based in Wichita, Kansas, commented that it remains committed to delivering high-quality products to its customers. Boeing, on the other hand, did not immediately respond to requests for comment from Reuters.
The discussions between Boeing and Spirit AeroSystems began earlier this year, with Boeing seeking to reacquire the supplier it spun off in 2005. The move is aimed at securing stability within its supply chain, particularly for its popular 737 MAX jetliner, following incidents earlier this year. Boeing has cited concerns over safety and quality control, attributing issues to incomplete or faulty parts supplied by Spirit.
However, negotiations faced obstacles regarding Spirit’s existing contracts with Airbus. Reportedly, Airbus expressed opposition to any deal that involved Boeing producing parts for Airbus’s latest aircraft models. As part of the potential agreement, Spirit may need to divest some manufacturing facilities to Airbus, Bloomberg noted.
Earlier reports from Reuters indicated that Boeing and Airbus have made progress in delineating Spirit’s projects, with Boeing slated to reclaim certain programs while Airbus would assume responsibility for others.
#BoeingAcquisition #SpiritAeroSystems #AerospaceIndustry #SupplyChainNews #ManufacturingDeal #SupplyChainNews
