Boeing (BA) Jumps 5.9% on Spirit Merger Progress
Boeing Company (NYSE:BA) is one of the 10 Stocks Leave Wall Street Stunned.
The Boeing Company grew its share prices by 5.91 percent on Friday to close at $214.55 apiece following news that its plan to acquire its former subsidiary, Spirit Aerosystems, is now progressing to secure regulatory approvals.
This followed the UK Competition and Markets Authority’s invitation from interested parties to help inform a decision on The Boeing Company (NYSE:BA) and Spirit Aerosystems’ proposed re-merger.
A commercial jetliner parked at an airport, reflecting the companies success in aviation.
The Boeing Company (NYSE:BA) spun off Spirit Aerosystems’ plants in Wichita and Oklahoma in 2005, and announced to reacquire the former unit for $4.7 billion last year in a bid to streamline its operations and improve quality control, ending nearly two decades of independence of the world’s largest standalone aerostructures company.
Meanwhile, The Boeing Company’s (NYSE:BA) competitor, Airbus, finalized a deal to acquire several Spirit AeroSystems facilities tied to its aircraft programs.
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Disclosure: None. This article is originally published at Insider Monkey.
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