Boeing is acquiring aircraft parts supplier Spirit AeroSystems for $4.7 billion (approximately 6.4813 trillion KRW). This marks the reacquisition after 20 years since the spin-off.
On the 30th (local time), Bloomberg News, citing sources, reported that Boeing agreed to acquire Spirit at $37.25 per share. The deal is an all-stock transaction.
Boeing and Spirit's boards approved the terms of the deal during a meeting on the same day, and it is expected to be officially announced on July 1.
According to sources, Boeing plans to manage Spirit’s overall manufacturing, including the 737 Max frames, after the acquisition.
Airbus is also expected to acquire some of Spirit’s factories. Spirit has been supplying wings to Airbus.
Spirit is the supplier of door plugs for the Boeing 737 Max 9 aircraft operated by Alaska Airlines, which experienced a door plug rupture accident in January.
Boeing spun off Spirit in 2005 but remained its largest customer. Since the Alaska Airlines accident in January, Boeing has been working to reacquire Spirit. Foreign media evaluated that Boeing’s completion of the acquisition negotiations will help address concerns about aircraft safety.
Since the 737 Max passenger plane crashes in 2018 and 2019, safety issues have arisen, causing Boeing to lose market share to Airbus.
According to foreign media on the same day, the U.S. Department of Justice is expected to notify Boeing of a criminal settlement including a guilty plea, a $487.2 million (approximately 671.8 billion KRW) fine, and enhanced supervision related to the series of 737 Max passenger plane crashes in 2018 and 2019.
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