Latest news with #SpiritAeroSystemsHoldings
Mint
30-06-2025
- Business
- Mint
Boeing-Spirit merger faces UK antitrust probe: Here's why the $4.7 billion deal is under lens
Boeing's proposed $4.7 billion deal to acquire Spirit AeroSystems Holdings will face an antitrust investigation in the United Kingdom, the country's antitrust watchdog said. The deal, valued at $8.3 billion including Spirit's net debt, was announced last year. It aims to reunite the aviation giants two decades after Spirit was spun off from Boeing in 2005 to trim costs, reported Bloomberg. The Competition and Markets Authority (CMA) has initiated a probe to determine whether the transaction poses a risk of 'substantial lessening of competition' in the UK. This investigation is said to be a standard procedure for acquisitions of this magnitude. The inquiry 'was anticipated and is part of the normal process for acquisitions of this nature,' a Spirit spokesperson told the news agency. The UK antitrust watchdog is expected to make a decision on whether to close the investigation or launch a more in-depth probe by August 28 of this year, it said in a notice published on Monday. The Boeing-Spirit merger will bring a key supplier for the 737, 787 Dreamliner and other commercial jets back to Boeing. In July 2024, Boeing announced that it is acquiring Spirit, which will include substantially all Boeing-related commercial operations, as well as additional commercial, defence and aftermarket operations. The objective of the purchase is to streamline Boeing's operations and improve quality control, years after spinning off the key supplier, according to Reuters. In July, former Boeing CEO Dave Calhoun told the media at the time of the acquisition announcement that the 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'. As part of the transaction, Boeing was expected to work with Spirit to ensure the continuity of operations supporting Spirit's customers and programmes it acquires, including working with the US Department of Defense and Spirit's defence customers regarding defence and security missions, Boeing said in a statement.
Business Times
30-06-2025
- Business
- Business Times
Boeing's US$4.7 billion Spirit deal faces UK antitrust probe
[NEW YORK] Boeing's US$4.7 billion deal to buy Spirit AeroSystems Holdings will face UK antitrust investigation, the country's antitrust watchdog said. The Competition and Markets Authority will decide whether the deal raises the risk of substantial lessening of competition in the UK. Boeing announced the deal last year with the total transaction value of US$8.3 billion, that included Spirit's net debt. The CMA will make a decision to close the investigation or launch a deeper probe by August 28, it said in a notice published on Monday (Jun 30). The inquiry 'was anticipated and is part of the normal process for acquisitions of this nature,' a Spirit spokesperson said. Boeing's spokesperson didn't immediately respond to a request for comment. The transaction, once completed, will reunite the firms two decades after Spirit was spun off in 2005 to trim costs. The merger will bring a key supplier for the 737, 787 Dreamliner and other commercial jets back to Boeing. BLOOMBERG
Yahoo
29-04-2025
- Business
- Yahoo
Watch These Boeing Stock Price Levels After 5-Session Winning Streak Snapped
Boeing shares closed slightly lower on Tuesday to put an end to a five-day winning streak during which the stock gained 14%. Since forming a bullish piercing pattern earlier this month, the stock has continued to move higher, potentially forming a double bottom in the process. Investors should watch overhead areas on Boeing's chart around $187 and $215, while also tracking important support levels near $140 and $ (BA) shares closed slightly lower on Tuesday to put an end to a five-day winning streak during which the stock gained 14%. The stock got a boost to start the week after analysts at Berstein upgraded the stock, pointing out that the jet maker's narrower-than-expected first quarter loss posted last week indicates a turnaround toward growth. In addition, Spirit AeroSystems Holdings and Boeing rival Airbus agreed to a deal Monday, clearing the way for Boeing to reacquire the supplier as it works to improve its manufacturing quality Boeing shares have gained 5% since the start of the year, after a turbulent 2024 that saw the stock lose a third of its value as a string of production mishaps and a crippling machinists strike weighed on investor sentiment. Boeing shares fell 0.2% to $182 on Tuesday. Below, we break down the technicals on Boeing's weekly chart and identify major price level worth putting on the radar. Since forming a bullish piercing pattern earlier this month, Boeing shares have continued to move higher, potentially forming a double bottom in the process. It's also worth noting that while this month's low made a lower low, the relative strength index (RSI) made a comparatively shallower trough to create a bullish divergence, a technical occurrence pointing to weakening selling pressure. Let's identify two major overhead areas on Boeing's chart that investors may be watching and also locate important support levels worth tracking during pullbacks. The first overhead area to watch sits around $187. This level may provide resistance near the closely watched 200-week moving average and a horizontal line that connects a range of trading activity on the chart stretching back to late 2021. Further buying enthusiasm could lift Boeing shares to the $215 level. Investors looking for profit-taking opportunities may decide to place sell orders near the upper range of a period of sideways drift on the chart between January and July 2023. This location also sits in the neighborhood of a projected bars pattern target that takes the stock's steep uptrend following a prior double bottom on the chart and repositions it from this month's low, providing insight as to how a similar move higher may play out. A retracement in the stock could see the shares fall to around $140. This area on the chart would likely attract buying interest near last November's prominent swing low, which also closely aligns with a brief period of consolidation in mid-2022. Finally, a further descent in Boeing shares could see a drop to lower support at $121. Investors may view this as a potential buying level near the May and September 2022 swing lows that preceded the stock's steep move higher in the fourth quarter of that year. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the above securities. Read the original article on Investopedia
