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Spirit AeroSystems has confirmed a merger agreement with The Boeing Company, where Boeing will acquire Spirit for $37.25 per share in Boeing common stock. This acquisition values Spirit at approximately $4.7 billion in equity and an enterprise value of about $8.3 billion, considering the company's net debt. The offer marks a 30% premium over Spirit's stock price on February 29, 2024.
Patrick M. Shanahan, president and CEO of Spirit, expressed confidence in the deal's benefits for shareholders and other stakeholders, highlighting the integration potential of both companies' manufacturing and engineering capabilities.
Additionally, Spirit disclosed a binding term sheet with Airbus SE to negotiate the sale of certain assets serving Airbus programs alongside Boeing's acquisition closure. Shanahan stated that this move would enhance program integration under Airbus ownership.
