Boeing to Buy Spirit Aero for $4.7 Billion in Stock Deal
- Airbus to pay $1 for Spirit assets, receive $559 million
- Spirit was separated in 2005 but has struggled to stand alone
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Boeing Co. agreed to buy back Spirit AeroSystems Holdings Inc. for $37.25 a share in an all-stock deal that values the supplier at $4.7 billion, unwinding a two-decade separation as the embattled US planemaker tries to fix its manufacturing defects.
The total transaction value is about $8.3 billion, including Spirit’s last reported net debt, according to a statement early on Monday. Rival Airbus SE will also take over parts of Spirit that make components for its aircraft, and the European planemaker will pay a nominal price of $1 for the assets, while receiving $559 million in compensation, according to a separate release.