WASHINGTON: Boeing said on Monday it would buy its struggling supplier Spirit AeroSystems in a US$4.7 billion all-stock deal which was finalised 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 US$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 US$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.