Boeing, the U.S. aerospace manufacturer, has formally requested approval from European regulators to reacquire Spirit AeroSystems, the independent aerostructures producer, according to documents published on the European Commission’s website. The planned transaction, first announced in July 2024, values Spirit at approximately $4.7 billion in stock, or about $8.3 billion including net debt. Spirit shareholders will receive between 0.18 and 0.25 Boeing shares for each Spirit share, depending on Boeing’s average stock price before the deal closes. Airbus has agreed to assume Spirit’s Europe-focused, loss-making operations, while Britain’s competition authority has already cleared the transaction, ruling that it does not significantly reduce competition in the sector.
The agreement covers nearly all of Spirit’s commercial operations tied to Boeing, in addition to its defense and aftermarket services. Boeing has also committed to working with Spirit to maintain continuity in defense and security programs, including those involving the U.S. Department of Defense. Boeing President and CEO Dave Calhoun welcomed the move, saying, “This transaction benefits passengers, the airlines we serve, employees of Spirit and Boeing, our shareholders, and the country as a whole. By reintegrating Spirit, we can fully align our commercial production systems, including our Safety and Quality Management Systems and workforce, with the same priorities, incentives and outcomes, focused on safety and quality.” The European Commission will now review the request to assess whether the acquisition raises competition concerns within the bloc.
