(Reuters) -Boeing offers Spirit Aero a stock-funded acquisition, valuing the 737 fuselage supplier at approximately $35 per share. Bloomberg News, citing sources, reported this strategic move on Monday.
That offer is worth about $4.08 billion, as per Reuters calculations based on Spirit’s outstanding shares as of May 7.
The per-share offer represents a premium of nearly 6% over Spirit’s stock closing price on Monday and a 22.4% upside to its closing price on Feb. 29, the day before Boeing’s takeover talks became public.
Spirit’s shares slid 6.3% to $31.30 in premarket trading on Tuesday. Boeing’s shares dropped about 1%, which would reduce the value of an all-stock offer.
The U.S. planemaker switched its offer from an all-cash one and while the final terms of the latest offer are still being discussed, it could include a small amount of cash, Bloomberg reported, adding the deal is expected to be announced within a matter of days.
Reuters reported last week that Boeing was nearing a deal to buy Spirit after months of talks.
Spirit said in a statement that it remains “focused on providing the best quality products for our customers”. Boeing did not immediately respond to a Reuters request for comment.
The proposal to acquire Spirit Aero highlights Boeing’s proactive approach in pursuing growth opportunities within the industry.
Boeing offers Spirit Aero to leverage its expertise and resources, strategically positioning itself in the aerospace market. This acquisition bid reflects Boeing’s commitment to enhancing its market presence through strategic acquisitions.
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