Boeing switched its proposed funding from an all-cash offer with the finish line in sight after months of talks between the companies, said the people, who asked not to be identified discussing the confidential matter.
A US$35 per share valuation would represent a premium of about 6 per cent to Spirit’s stock as at June 24’s close. It is also a 22 per cent upside to its closing price on Feb 29, the day before Boeing’s takeover talks became public.
A Boeing representative declined to comment on the decision to move to an all-stock deal, which was earlier reported by The Wall Street Journal.
This story is from the June 26, 2024 edition of The Straits Times.
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This story is from the June 26, 2024 edition of The Straits Times.
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