Boeing near deal to acquire Spirit AeroSystems, Reuters reports

Boeing (BA) is nearing a deal to acquire Spirit AeroSystems (SPR) after its former subsidiary made substantial progress in separate talks with Airbus (EADSY) over a transatlantic breakup, Mike Stone, Allison Lampert, David Shepardson and Tim Hepher of Reuters report, citing people familiar with the matter. Boeing initiated talks earlier this year to buy back Spirit, but the talks hit a stumbling block over Spirit’s work for Airbus as the latter threatened to block any deal that involved Boeing building parts for its newest models, according to Reuters. However, Boeing and Airbus have broadly succeeded in dividing Spirit’s programs into work that Boeing will take back, along with work that Airbus will take, the journalists report. The exact timing of the deal is unclear, but sources told Reuters it could come within days or weeks, barring last-minute snags. Shares of Spirit AeroSystems are up 4% to $32.85 in premarket trading.