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Boeing (NYSE:BA) has offered to acquire Spirit Aerosystems (NYSE:SPR) in a mainly stock deal that values the supplier at about $35 a share.
Boeing (BA) was closing in on an all-cash deal for fuselage maker Spirit (SPR) over the weekend, when Boeing switched to an offer that consisted mainly of stock, according to a WSJ report late Monday, which cited people familiar with the matter.
A $35 price represents a premium of about 6% to Spirit’s (SPR) closing price on Monday.
Under the proposed deal, Spirit (SPR) will shed operations that make parts for Boeing rival Airbus (OTCPK:EADSY).
The latest update comes after reports on Thursday that Spirit (SPR) made substantial progress in separate talks with Airbus.
Late last month, Boeing (BA) Chief Financial Officer Brian West said that he believed that a Spirit (SPR) could get signed in the second quarter.