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Boeing has agreed to buy back Spirit AeroSystems for $4.7 billion in stock, ending the near-two-decade independence of the world's largest standalone aerostructures company. Boeing's arch-rival, Airbus,
Boeing has agreed to reacquire Spirit AeroSystems, a key parts supplier, in a stock and debt deal worth as much as $13 billion.
Airbus said it would also receive $559 million in compensation from Spirit AeroSystems. Boeing is buying the bulk of the business.
Airbus may end up owning some assets of Spirit AeroSystems in Scotland and Malaysia if the transatlantic supplier is unable to find a buyer for them, a filing from the aerostructures company showed on Monday.
Boeing agreed to buy Spirit Aerosystems, one of its major suppliers and manufacturing partners, as part of its plan to overhaul the aircraft maker’s badly damaged safety reputation.
Boeing said it reached a deal to purchase Spirit AeroSystems for $4.7 billion, as the plane manufacturer attempts to shore up safety concerns following recent issues with certain jets.
European planemaker Airbus will take over core activities at four Spirit Aerosystems plants as arch-rival Boeing agrees to buy the world's largest standalone aerostructures company in a $4.7 billion stock deal.
Boeing announced plans to buy back the bulk of supplier Spirit AeroSystems for $4.7 billion, and Airbus said it would purchase Spirit operations related to the European aerospace giant.
The Boeing Company (NYSE: BA) recently signed a contract to buy back Spirit AeroSystems (NYSE: SPR), its largest independent supplier of aerostructures, which spun off from the jet maker in 2005.
Patrick Shanahan is seen as the logical choice due to his engineering background and his ability to turn around poorly performing programs.
Boeing's long-awaited announcement that it will buy back its struggling supplier, Spirit AeroSystems , now shifts the focus of investors to the planemaker's search for a new CEO.
Spirit AeroSystems CEO Pat Shanahan, who engineered the deal to to split Spirit AeroSystems between Boeing and Airbus, is positioned to be a top Boeing CEO candidate.
Boeing, which previously owned Spirit, said bringing the supplier back into its fold would improve plane quality and safety, which has come under scrutiny.
Boeing Co. has agreed to buy parts supplier Spirit Aerosystems Holdings Inc. in an all-stock deal worth more than $4 billion.
The sale required complex three-party negotiations that will break Spirit up. The deal is pending regulatory review, which can take several months.
The CEO of the beleaguered fuselage supplier Spirit AeroSystems, who successfully engineered the plan for Boeing to buy the company 20 years after selling it, could soon be Boeing’s top boss.
Boeing is bringing key supplier Spirit AeroSystems back under its wing. Why it matters: Moving the fuselage maker in-house — Boeing sold the business nearly two decades ago — is seen as a necessary step to correct quality-control issues that have plagued both companies.
Tesla’s second-quarter deliveries report is expected this week, investor Keith Gill reports a 6.6% stake in Chewy, and Boeing reaches an agreement to acquire Spirit AeroSystems.
Boeing plans to acquire Spirit AeroSystems for $4.7 billion, aiming to improve aircraft quality and safety amid increased oversight from Congress, airlines, and the Department of Justice. “We believe this deal is in the best interest of the flying public,
We believe this deal is in the best interest of the flying public' A few weeks prior to the official announcement, reports started to swirl that Boeing was looking toward Spirit
Boeing agreed to acquire Sprit Aero for $37.25 a share in stock. The deal values Spirit at about $8 billion, including the company’s debt.
Key Takeaways Boeing agreed to reacquire Spirit AeroSystems for $4.7 billion as the troubled plane manufacturer moves to strengthen control of its supply chain.Spirit makes fuselages for Boeing's 737 family of planes,
CNBC's Phil LeBeau joins 'Squawk Box' to report on Boeing as the plane maker announces plans to buy fuselage maker Spirit AeroSystems in a $4.7 billion deal.
Boeing announced plans to acquire key supplier Spirit AeroSystems for $4.7 billion, a move that it says will improve plane quality and safety amid increasing scrutiny by Congress, airlines and the Department of Justice.
Politicians and union leaders warn against dismantling the aircraft supplier in Northern Ireland as Airbus considers options
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Analyst Kristine Liwag from Morgan Stanley maintained a Hold rating on Boeing (BA – Research Report) and keeping the price target at
Improving the fuselage maker's operations will be a complicated task that takes years. Amid all their other problems, it's not clear Boeing management knows what to do.
Boeing said in March that it was in talks to acquire fuselage maker Spirit AeroSystems. The deal comes after a big leadership shake-up at Boeing and a midflight door panel blowout that sparked a fresh safety crisis.
The Department of Justice plans to charge plane manufacturer Boeing with fraud after it allegedly violated an agreement that shielded it from prosecution over fatal crashes involving its 737 Max jets,
The existing contract is set to expire in 2027 but Boeing expects to take over Spirit AeroSystems’ Wichita operations by mid-2025.
The future of a major British aerospace plant is in doubt with up to 2,400 jobs at risk following a carve-up of owner Spirit AeroSystems between Boeing and Airbus.
Boeing previously owned Spirit, and the purchase would reverse a longtime Boeing strategy of outsourcing key work on its passenger planes.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Airplane parts supplier Spirit AeroSystems (NYSE:SPR) is trending, and SPR
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
Boeing announced plans to acquire key Wichita-based Spirit AeroSystems for $4.7 billion ($37.25 per share). Yahoo Finance
Boeing announced plans to acquire key supplier Spirit AeroSystems for $4.7 billion, a move that it says will improve plane quality and safety amid increasing scrutiny by Congress, airlines and the Department of Justice.
Spirit AeroSystems Holdings edged higher on Monday's pre-market after Boeing said it will acquire back the jet fuselage maker in an all-stock deal worth around $4.7 billion. Dow Jones Newswires is a market-moving financial and business news source,
Boeing will reverse the 2005 spin-off of this critical division and will need to stabilize production at multiple facilities.
The multibillion-dollar deal will reverse a decision the plane maker made two decades ago to outsource production of key parts to independent suppliers.
It pleased a Jefferies analyst who reiterated a buy rating on the stock and a $270 price target, which implies a 45% upside to the current price over the next 12 months or so. As previously noted, shoring up delivery rates by ensuring suppliers like Spirit (fuselages) can meet Boeing's intended production ramp is one of the three key things Boeing needs to do to put the stock back in recovery mode.
The acquisition at a time when Boeing faces major turmoil over safety issues plaguing its aircraft and potential federal criminal charges in the U.S.
Boeing (NYSE:BA) agreed to acquire Spirit AeroSystems (NYSE:SPR) for $37.25 a share in an all-stock deal that had been expected for several months, the companies announced on Monday. Analysts at Wall Street banks offered opinions on what the deal could mean for Boeing (BA) as the company seeks to boost output of planes and overcome serious doubts
Boeing announced on Monday that they have agreed to a definitive merger agreement to acquire Spirit AreoSystems. “We believe this deal is in the best interest of the flying public, our airline customers,