By Mike Stone, Tim Hepher and Abhijith Ganapavaram WASHINGTON (Reuters) – Hashed out in three-way talks between plane giants and one of their key suppliers, Boeing’s $4.7 billion deal to buy back Spirit AeroSystems is a rare triangular deal born out of crisis. The merger, variously code-named “Sphere” and “Sparrow,” had been in the making […]
Boeing has agreed to buy back Spirit AeroSystems for $4.7 billion (€4.4 billion) in stock and Airbus moved to take on the supplier’s loss-making Europe-focused activities, sending shares in all three companies higher in a rare transatlantic break-up. The near-two-decade independence of the world’s largest standalone aerostructures company ended in a carve-up between its largest […]
ARLINGTON, Va. (AP) — Boeing announced plans to aquire Spirit AeroSystems for $4.7 billion in an all-stock transaction for the manufacturing firm, which already was part of the aerospace company’s manufacturing chain. Boeing, located in Arlington, Virginia, announced the purchase in a statement late Sunday. The acquisition’s equity value of $4.7 billion is $37.25 per […]
The Justice Department has told Boeing (BA) that it will charge it with fraud, urging the Dow aerospace giant to plead guilty to the criminal charge or risk a trial, according to multiple reports. Meanwhile, Boeing reportedly has agreed to buy supplier Spirit AeroSystems (SPR). ↑ X NOW PLAYING Nasdaq Reverses After Hitting 18,000; Uber, […]
The Boeing Co. has reached accord to repurchase Spirit AeroSystems in a stock deal valued at more that $4 billion, a major news organization is reporting. The Reuters news agency reported that the boards of the two companies met and agreed to the deal on Sunday, and it could be announced as early as Monday. […]
Watch These Key Price Levels Source: TradingView.com Key Takeaways Spirit AeroSystems shares dropped in pre-market trading Tuesday following reports Boeing changed the terms of its all-cash offer to reacquire the company for a mostly stock deal valuing Spirit at about $35 per share. If accepted, that offer would represent a premium of about 6% to […]
WICHITA, Kan. (KSNW) — Spirit AeroSystems will lay off 400 to 450 employees, according to an internal email sent to employees. It also said the reduction is to the hourly production workforce. Senior Contributing Analyst, for the Teal Group, Bruce McClelland, and Sedgwick County Commissioner Jim Howell agree, this is a dicey move for Spirit […]
(Reuters) -Spirit AeroSystems is laying off several hundred members of its workforce in Wichita, Kan., according to an internal memo, as the company deals with high debt and slowed production at Boeing, its key customer. “The recent slowdown in the delivery rate on commercial programs compels a reduction to our workforce in Wichita,” spokesman Joe […]
A former quality auditor at Spirit AeroSystems who became a whistleblower has died, according to family and his attorneys. Joshua Dean is the second whistleblower to die in the last couple of months. Spirit makes the fuselage and does about 70% of the work on Boeing’s 737 airplanes. The two have been under scrutiny after […]
By Mike Scarcella (Reuters) – Airline parts manufacturer Spirit AeroSystems has asked a U.S. judge to block a probe by Texas Attorney General Ken Paxton, calling the state’s demand for internal documents and other information unreasonable and unlawful. Spirit Aero filed the lawsuit Wednesday night in an Austin, Texas, federal court. It said Spirit Aero […]
DALLAS (AP) — Boeing said Friday that it is in “preliminary discussions” to buy Spirit AeroSystems, which builds fuselages for Boeing 737 Max jetliners, including the one that suffered a door-panel blowout on an Alaska Airlines flight in January. Boeing used to own Spirit, and it said that bringing the manufacturer back into the Boeing […]
Boeing is in talks to buy back Spirit Aerosystems, which makes fuselages for Boeing’s 737 Max jets, according to a person familiar with the matter, as both companies scramble to stamp out manufacturing flaws on the top-selling plane. Shares of Spirit were up 13% as of early afternoon on Friday, while shares of Boeing were […]