Boeing announces purchase of Spirit AeroSystems for $4.7 billion in stock

Boeing has announced plans to aquire Spirit AeroSystems for $4.7 billion in an all-stock transaction for the manufacturing firm. Boeing, located in Arlington, Virginia, announced the purchase in a statement late Sunday. Boeing says the acquisition’s equity value of $4.7 billion is $37.25 per share, while the total value of the deal is around $8.3 billion, which includes Spirit’s last reported net debt. Spirit, located in Wichita, Kansas, manufactures key parts for Boeing aircraft. Boeing previously owned Spirit and the aerospace company says bringing the supplier back into the Boeing fold would improve plane quality and safety, which has come under increasing scrutiny by regulators, Congress and airlines.