Boeing Announces Acquisition of Spirit AeroSystems: CEO’s Message to Employees

Boeing has announced its definitive agreement to acquire Spirit AeroSystems in a landmark all-stock transaction valued at approximately $8.3 billion.

The deal, set at an equity value of $4.7 billion or $37.25 per share, signifies a strategic move to integrate and enhance Boeing’s production capabilities across commercial, defense, and aftermarket operations.

Spirit shareholders will receive between 0.18 and 0.25

Under the terms of the agreement, Spirit shareholders will receive Boeing shares at an exchange ratio ranging from 0.18 to 0.25, based on Boeing’s volume-weighted average share price. This ratio adjustment ensures fairness depending on Boeing’s stock performance leading up to the transaction’s closing, slated for mid-2025.

Boeing’s acquisition of Spirit encompasses its core commercial operations, complemented by additional segments crucial to both companies’ defense and aftermarket commitments. This consolidation aims to streamline production processes and align safety and quality management systems across their operations, bolstering efficiency and innovation.

Airbus will acquire certain commercial work packages

Airbus SE and Spirit have also entered into a binding term sheet under which Airbus will acquire, assuming the parties entered into definitive agreements and receipt of any required regulatory approvals, certain commercial work packages that Spirit performs for Airbus concurrently with the closing of the Boeing-Spirit merger.

In a message to employees, Boeing’s CEO emphasized the transformative potential of this merger. By consolidating their respective expertise, Boeing and Spirit AeroSystems aim to align commercial production systems and enhance Safety and Quality Management Systems.

This alignment is poised to bolster efficiency and foster collaboration among engineers and mechanics, ultimately driving the delivery of safe and high-quality airplanes to global customers.

The acquisition will encompass Boeing-related commercial operations while extending into defense and aftermarket sectors. Boeing pledges to ensure operational continuity for Spirit’s customers, including defense stakeholders, thereby fortifying its role in critical defense and security missions.