Boeing Reunites with Spirit – Merger Arbitrage Mondays

Spirit Aerosystems Holdings Inc. (SPR): $34.03

Market Cap: $3.94 B

Deal Size: $8.3 B

The Boeing Company (BA) has faced significant challenges since the January mid-air panel blowout of a 737 MAX plane, which also affected its supplier Spirit AeroSystems (SPR), the manufacturer of Boeing’s 737 fuselages and other airframe components. Boeing has been searching for a new CEO and has been under scrutiny by the Justice Department because of the two fatal crashes in 2018 and 2019 that killed 346 people.

Among all this, Boeing announced a deal to acquire Spirit AeroSystems for $8.3 billion including debt, after months of talks between the U.S. planemaker and its supplier.

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