Boeing agrees to buy spinoff Spirit Aerosystems as part of plan to shore up safety ...Middle East

By David Goldman, CNN New York (CNN) — Boeing has agreed to buy Spirit Aerosystems, one of its major suppliers and manufacturing partners, as part of its plan to overhaul the aircraft maker’s badly damaged safety reputation. The all-stock deal, that values the supplier at $4.7 billion, or $37.25 per share, was announced Monday after months of discussions between Boeing and the company it spun off in 2005. Boeing in March announced its intention to buy Spirit, saying recombining the companies would boost safety. The total transaction value is approximately $8.3 billion, including Spirit’s last reported net debt. “We believe this deal is in the best interest of the flying public, our

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Boeing agrees to buy spinoff Spirit Aerosystems as part of plan to shore up safety ...Middle East

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