On July 1st, Boeing announced that it had reached a clear agreement to acquire Spirit AeroSystems. This merger is an all stock transaction with an equity value of $37.25 per share, approximately $4.7 billion. The total transaction value is approximately $8.3 billion, including Spirit's net debt as reported last time.
Boeing President and CEO David Calhoun said, "We believe this transaction is in the best interests of passengers, airline customers, Spirit and Boeing employees, shareholders, and more.". By re integrating Spirit, we can fully unify the civilian production system, including safety and quality management systems, as well as our employees' work priorities, incentives, and results, with safety and quality as the center
Boeing's acquisition of Spirit will include almost all civilian businesses related to Boeing, as well as some other businesses. As part of the transaction, Boeing will collaborate with Spirit to ensure the operational continuity of supporting Spirit customers' business and the projects they acquire.
Airbus and Spirit have also signed a binding memorandum of terms, according to which Airbus will acquire certain civilian work packages executed by Spirit for Airbus simultaneously with the merger and delivery of Boeing and Spirit. In addition, Spirit plans to sell some of its businesses, including those located in Belfast, Northern Ireland (non Airbus business), Prestwick, Scotland, and Subang, Malaysia. The transaction is expected to be completed by mid-2025 and will be affected by the sale of Spirit business related to Airbus civilian work packages and customary delivery conditions, including approval from regulatory agencies and Spirit shareholders.