Justice Department officials have to decide whether to criminally charge Boeing, which would be a devastating blow for a giant manufacturer that serves as America's largest exporter.
-Boeing said on Monday it would buy its struggling supplier Spirit AeroSystems in a $4.7 billion all-stock deal which was finalized after months of talks, as the aerospace giant tries to solve a full-blown safety and regulatory crisis that has engulfed its key supplier as well. The total transaction value is about $8.3 billion, including Spirit's last reported net debt, Boeing said, adding that Spirit shareholders will receive 0.25 Boeing shares for each of their Spirit shares if the volume-weighted average price is at or below $149. Airbus and Spirit have also entered into a binding term sheet under which Airbus will acquire certain commercial work packages that Spirit performs for Airbus concurrently with the closing of the Boeing-Spirit merger, it added.
Spirit AeroSystems [NYSE: SPR] ("Spirit") today announced it has entered into a definitive merger agreement under which The Boeing Company [NYSE: BA] ("Boeing") will acquire Spirit for $37.25 per share in Boeing common stock (subject to the collar described below). At $37.25 per share, this represents an equity value of approximately $4.7 billion and an enterprise value of approximately $8.3 billion including Spirit's last reported net debt. The price of $37.25 per share represents a 30% premium