US aircraft manufacturer will bring parts supplier back under its wing after two decades apart
Boeing has agreed to buy Spirit AeroSystems in a deal valuing the airline supplier at $4.7bn, after months of negotiations that involved the US aircraft maker as well as its European arch-rival Airbus, according to people briefed on the matter. The deal, which values the supplier at about $37.25 per share, will bring Spirit back under Boeing’s wing after two decades apart. Boeing had spun off the parts builder in 2005 but remained its biggest customer.
Spirit, which makes the body of Boeing’s 737 Max jet, has come under scrutiny over manufacturing problems that have slowed the production of the aircraft. Last year, Spirit’s chief executive officer was replaced with former Boeing executive Patrick Shanahan. Boeing has been in talks with Spirit since March. It has said repurchasing the airline supplier would boost safety in the manufacturing process.
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