Spirit AeroSystems Shares Rise Premarket On Boeing's $4.7 Billion Deal

By Michael Susin

Spirit AeroSystems Holdings edged higher on Monday's pre-market after Boeing said it will acquire back the jet fuselage maker in an all-stock deal worth around $4.7 billion.

Shares were up 6.60% at $35.04 in premarket trading.

The aerospace company on Monday said it agreed to acquire Spirit--which split off from Boeing two decades ago--for $37.25 a share in a deal that valued Spirit at around $4.7 billion.

As part of the deal, Boeing will also buy Spirit's defense and aftermarket operations. Spirit is expected to shed factories, including in Europe, that make parts for Boeing rival Airbus.

Airbus will acquire production assets of Spirit AeroSystems with the help of a $559 million compensatory payment related to rival Boeing's acquisition of Spirit.

Write to Michael Susin at michael.susin@wsj.com

Corrections & Amplifications

This article was corrected at 1043 GMT to clarify that Airbus will acquire production assets of Spirit AeroSystems with the help of a $559 million compensatory payment related to rival Boeing's acquisition of Spirit. An earlier article incorrectly said Spirit AeroSystems will receive the compensation.

(END) Dow Jones Newswires

July 01, 2024 06:31 ET (10:31 GMT)

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