Boeing, Spirit not close to merger completion, Bloomberg reports

Boeing’s (BA) plan to acquire Spirit AeroSystems (SPR) has hit a “snag” and become a protracted process over pricing for factories that make components for Airbus (EADSY), Julie Johnsson, Siddharth Philip and Kiel Porter of Bloomberg report. Since Boeing confirmed its intention in early March to re-integrate Spirit, talks have only progressed slowly and don’t appear anywhere close to completion, people close to the matter told Bloomberg. Spirit makes parts not just for Boeing, but also for Airbus as well as manufacturers including Northrop Grumman (NOC), sources noted. Talks between the parties have not broken down, and the companies involved remain willing to reach an accord, the people added. Boeing declined to comment while Airbus said it’s in “early stage discussions on a variety of options, including acquiring from Spirit Aerosystems some of the activities that they carry out for Airbus.” Shares of Spirit AeroSystems are down 1% to $32.42 following the report.