Boeing reportedly changes up terms of offer for Spirit AeroSystems
By Bill Peters
Wall Street Journal reports Boeing is now proposing using stock to buy jet-parts manufacturer
After getting close to a more than $4 billion all-cash deal over the weekend, jet maker Boeing Co. is now proposing using stock to buy jet-parts manufacturer Spirit AeroSystems Holdings Inc., the Wall Street Journal reported on Monday.
The Journal noted that Boeing (BA) has chewed through billions in cash, after safety issues this year have grounded some of its planes and led to a drop in deliveries.
Boeing did not immediately respond to a request for comment. Spirit (SPR), when reached, would not comment directly on the report, saying only that "we remain solely focused on providing the best quality products for our customers."
Shares of Boeing were flat after hours. Spirit, whose largest customer is Boeing, fell 1.3%.
The Journal said that under the deal being discussed, Boeing would buy up the portion of Spirit that makes its parts, which include air frames and other components. Spirit would offload its business that produces parts for Airbus (FR:AIR), Boeing's main jet-making rival, the Journal said.
Spirit AeroSystems formed in 2005, after Boeing sold off some operations.
-Bill Peters
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
06-24-24 2016ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations