Why Are Spirit Shares Trading Higher Monday?

Spirit AeroSystems Holdings, Inc. SPRHTTPSSPR shares are higher Monday following news of its acquisition by Boeing BA.

What To Know: Boeing has agreed to acquire Spirit AeroSystems at a price of $37.25 per share in Boeing common stock, a deal valued at approximately $4.7 billion in equity and $8.3 billion including Spirit’s net debt.

The deal also prioritizes continuity for key U.S. defense and national security programs, supporting supply chain stability and safeguarding critical manufacturing jobs. Boeing anticipates long-term value creation for its commercial and defense customers, employees and shareholders alike.

Boeing President and CEO Dave Calhoun emphasized the strategic rationale, stating, “We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders and the country more broadly.”

What Else: Airbus SE has entered into a binding term sheet to acquire certain commercial work packages from Spirit concurrently with the Boeing-Spirit merger. Spirit is also proposing to divest operations in Belfast, Northern Ireland (non-Airbus operations), Prestwick, Scotland and Subang, Malaysia. The transaction is expected to close by mid-2025, subject to regulatory approvals and Spirit shareholder consent.

SPR Price Action: Spirit AeroSystems shares were up by 3.38% at $33.98 at the time of writing, according to Benzinga pro.