Spirit AeroSystems manufactured fuselages and other components for the Boeing 737. [Courtesy: Boeing]
Key Takeaways:
Boeing has agreed to acquire Spirit AeroSystems for $4.7 billion in an all-stock transaction, bringing the total transaction value to $8.3 billion including Spirit's debt.
Spirit AeroSystems, a former Boeing division, manufactured the faulty door plug that led to a January 5th incident on a 737 Max 9, highlighting recent quality control issues.
Boeing's CEO stated the acquisition is intended to reintegrate Spirit's commercial production, safety, and quality management systems to ensure alignment on safety and quality priorities.
Boeing has entered into an agreement to acquire Spirit AeroSystems. The price tag on the merger described by Boeing as an “all-stock transaction” is $4.7 billion, or $37.25 per share.
“The total transaction value is approximately $8.3 billion, including Spirit’s last reported net debt,” Boeing said in a statement.
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Meg Godlewski has been an aviation journalist for more than 24 years and a CFI for more than 20 years. If she is not flying or teaching aviation, she is writing about it. Meg is a founding member of the Pilot Proficiency Center at EAA AirVenture and excels at the application of simulation technology to flatten the learning curve. Follow Meg on Twitter @2Lewski.
