Boeing's buyback of its former subsidiary and current fuselage supplier Spirit AeroSystems is nearing completion, according to a report from Reuters citing industry sources familiar with the matter.
According to Reuters' sources, Boeing and Airbus have agreed to split parts of Spirit's programmes, while a third category of programmes may be sold or dealt with separately.
The news follows reported substantial progress in Spirit's separate talks with Airbus over a transatlantic breakup of the supplier after Airbus had put initially hindered talks moving forward.
The Wall Street Journal reported on June 25 that Boeing has offered to acquire Spirit Aerosystems in a mainly stock deal valued at around $35 per share. WSJ had cited sourced familiar with the matter. $35 represents a premium of approximately 6% to Spirit's closing price on June 24, 2024. At market close, Spirit's stock was at $32.65 per share.
It was announced earlier this year that Boeing and Spirit were in talks to bring the supplier back into the Boeing fold, which had broke off from the American OEM back in 2005. ""We believe that the reintegration of Boeing and Spirit Aerosystems’ manufacturing operations would further strengthen aviation safety, improve quality and serve the interests of our customers, employees, and shareholders,” Boeing said in a statement at the time.
Following the announcement, Airbus had reportedly threatened to block any deal that involved Boeing building parts for its newest models.
With the deal nearing completion, it is estimated that it will come within days or weeks. Boeing declined to comment. Airbus and Spirit did not respond to comment. Spirit's stock rose over 6% in after hours trading following reports.