03:29 AM EDT, 07/01/2024 (MT Newswires) -- Boeing ( BA ) has agreed to acquire Spirit AeroSystems ( SPR ) in a deal worth $8.3 billion, including Spirit's last reported net debt, the companies said in separate Monday statements.

The all-stock transaction values each Spirit common share at $37.25, or an equity value of about $4.7 billion.

Under the deal, each Spirit common share will be exchanged for between 0.18 and 0.25 Boeing ( BA ) common share, depending on the volume weighted average share price of Boeing ( BA ) common stock over a certain period prior to closing.

The deal includes substantially all Boeing ( BA )-related commercial operations of Spirit, as well as additional commercial, defense and aftermarket operations, Boeing ( BA ) said.

Spirit also plans to sell certain of its Airbus-related operations in a separate transaction with Airbus, and the parties will continue negotiating to reach a definitive deal.

Closing of the Boeing ( BA ) deal is expected to occur in mid-2025, subject to the sale of Spirit operations related to certain Airbus commercial work packages and other conditions.

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