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Boeing is reportedly planning to acquire the aircraft manufacturer Spirit for over $4 billion.

TraderKnows
TraderKnows
07-01

This Sunday, media reports revealed that Boeing plans to repurchase Spirit, a company spun off in 2005, for a hefty price of $4.7 billion.

According to a Reuters report on Sunday, Boeing has agreed to repurchase Spirit Aerosystems Holdings Inc for more than $4 billion, ending months of speculation about the deal as the aircraft manufacturer faces a new safety crisis.

Reuters reported that Boeing will pay $37.25 per share in an all-stock transaction, valuing the deal at $4.7 billion.

Due to antitrust concerns, some of Spirit's assets will be split and sold to the French aircraft manufacturer Airbus Group.

Boeing is bringing Spirit back under its wing after spinning it off in 2005. This acquisition comes at a time when Boeing is facing a new safety scandal due to a series of safety and quality issues exposed by the 737 MAX 9 plane's in-flight door opening.

This new crisis follows the two 737 MAX crashes in 2018 and 2019, which resulted in the deaths of more than 350 people and intensified regulatory scrutiny of the company.

Additionally, Reuters reported that the U.S. Department of Justice is seeking to press criminal fraud charges against Boeing for the two crashes.

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