In a significant move within the aerospace industry, The Boeing Company (BA) has announced the acquisition of Spirit AeroSystems (SPR) in a deal valued at approximately $8.3 billion. The agreement, which was finalized on Monday, July 1, 2024, will see Spirit shareholders receive $37.25 per share in Boeing common stock.
The transaction encompasses Spirit’s net debt and involves the divestiture of certain Airbus programs. This strategic move will see Boeing gain full control of the production of critical components for its commercial aircraft, including fuselages, wings, and tail sections.
The acquisition is subject to customary closing conditions, including regulatory approvals and shareholder votes. Both companies have confirmed that the transaction is expected to close in the second half of 2024.
Advisors for the deal include Goldman Sachs & Co. LLC as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel for Boeing. Meanwhile, J.P. Morgan Securities LLC is acting as financial advisor and Kirkland & Ellis LLP is serving as legal counsel for Spirit AeroSystems.
