Boeing announced on Monday its plan to reacquire parts supplier Spirit AeroSystems in an all-stock deal valued at $4.7 billion, equating to $37.25 per share. Spirit shareholders will receive between 0.18 and 0.25 Boeing shares for each Spirit share, depending on Boeing’s stock price at the time of the deal’s closure. This move aims to strengthen Boeing’s control over its supply chain.
Spirit AeroSystems, which was spun off from Boeing in 2005, manufactures parts such as fuselages for Boeing’s 737 planes. The company has faced scrutiny following a January incident where a door plug detached from a Boeing plane midair. The reacquisition faced delays since its initial report in March, partly due to Spirit’s expansion of clients, including Airbus, Boeing’s main competitor.
To address this, Airbus and Spirit have agreed for Airbus to purchase the parts of Spirit’s business that supply Airbus planes. This part of the transaction is expected to be completed by mid-next year, allowing Boeing to focus on its supply chain while Airbus secures its part manufacturing needs.
