STORY: Boeing is moving to tackle worries over the quality of its jets by buying key supplier Spirit AeroSystems.
That’s according to reports by Bloomberg, which says the deal will mostly be funded with stock.
It reportedly values Spirit at about $35 per share – a premium of about 6% over the firm’s Monday closing price.
The deal is now expected to be announced within a matter of days.
It all comes months after a midair blowout on one of Boeing’s 737 MAX jets.
That revived concern over quality control at the firm, and left it facing close scrutiny by regulators and lawmakers.
Now Boeing hopes reacquiring Spirit – which it spun off back in 2005 – will give it more control over its supply chain.
The aerospace giant has blamed the company for sending it incomplete or faulty parts.
Talks over the takeover had earlier hit a stumbling block over Spirit’s work for Airbus.
The European firm threatened to block any deal that saw Boeing making parts for its latest jets.
Airbus is now expected to acquire the relevant Spirit factories as part of the move.
Source Agencies
