UK Greenlights Boeing’s Acquisition of Spirit AeroSystems
The United Kingdom’s Competition and Markets Authority (CMA) has approved Boeing’s acquisition of Spirit AeroSystems, ruling out an in-depth investigation into potential competition risks. The decision, announced this Friday, avoids moving the case to a “Phase 2” review and is based on the information available to date. The regulator confirmed that the full text of its resolution will be published shortly.
A Relief for Boeing After Years of Turbulence
The news provides a respite for Boeing, which in recent years has faced financial crises, declining employee morale, and a loss of public trust.
A Spirit spokesperson confirmed that the deal is expected to close in the fourth quarter of this year.
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A $4.7 Billion Deal
Last year, Boeing agreed to repurchase Spirit AeroSystems in a $4.7 billion all-stock transaction, aiming to streamline operations and strengthen quality control. The move ends nearly two decades of independence for Spirit, once the world’s largest independent aerostructures manufacturer.
Asset Exchange with Airbus
Concurrently, Boeing reached an agreement in July to take over part of Spirit’s operations in Belfast, Northern Ireland, which were previously owned by Airbus. The European company had finalized a deal in April to acquire several Spirit facilities tied to its aircraft programs.
Brief Investigation and Timely Approval
The CMA began its preliminary review of the case in June, with a deadline of August 28 to issue a ruling. With this approval, Boeing moves one step closer to a strategic integration that could redefine the commercial aviation supply chain in the coming years.
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