- Israeli defense minister postpones trip to Washington: Pentagon
- Europe skipper Donald in talks with Garcia over Ryder return
- Kenya MPs vote to impeach deputy president in historic move
- Former US coach Berhalter named Chicago Fire head coach
- New York Jets fire head coach Saleh: team
- Australia crush New Zealand in Women's T20 World Cup
- US states accuse TikTok of harming young users
- 'Evacuate now, now, now': Florida braces for next hurricane
- US Supreme Court skeptical of challenge to 'ghost guns' regulation
- Sparks fly as Orban berates EU 'elites' in parliament trip
- US finalizes rule to remove lead pipes within a decade
- Solanke hungry for second England cap after seven-year wait
- Gilded canopy restored at Vatican basilica
- Zverev scrapes through, Djokovic cruises to Shanghai Masters last 16
- Trump secretly sent Covid tests to Putin: Bob Woodward book
- Gauff answers critics: 'It's hard to win all the time'
- Neural networks, machine learning? Nobel-winning AI science explained
- China says raised 'serious concerns' with US over trade curbs
- Boeing delivers 27 MAX jets in September despite strike
- German 'Maddie' suspect could be free in 2025 after cleared of other sex crimes
- Italy seek Nations League consistency as Germany continue rebuild
- From boom to budgeting as reality bites for Saudi football
- Stock markets diverge as Hong Kong sinks, oil prices fall
- US trade gap narrowest in five months as imports slip
- Stay and 'you are going to die': Florida braces for next hurricane
- England 96-1 after Salman's century lifts Pakistan to 556
- Hollywood star Idris Elba champions African cinema in Ghana
- Djokovic rolls Cobolli to make Shanghai Masters last 16
- Milan's Hernandez receives two-game suspension after referee rant
- Geoffrey Hinton, soft-spoken godfather of AI
- Ex-Barcelona and Spain great Iniesta retires aged 40
- Duo wins Physics Nobel for 'foundational' AI breakthroughs
- German 'Maddie' suspect could be free in 2025 after cleared of separate sex crimes
- China slaps provisional tariffs on EU brandy imports
- Ex-skipper Skelton eyes Wallabies November return
- Spanish great Iniesta leaves indelible legacy after retirement
- Indian Kashmir elects first regional government in a decade
- Hong Kong stocks crash, oil prices retreat on fading China boost
- Man City accuse Premier League of 'misleading' claims after legal case
- Duo wins Physics Nobel for key breakthroughs in AI
- Agha defies England as Pakistan post 515-8 in first Test
- September second-warmest on record: EU climate monitor
- Pastor wanted by US for sex trafficking to run for Philippine senate
- Mozambican writer Mia Couto dreams future leaders set an 'example'
- German 'Maddie' suspect could be free soon after cleared of separate sex crimes
- China says to take anti-dumping measures against EU brandy imports
- German suspect in 'Maddie' case cleared in separate sex crimes trial
- Israel expands offensive against Hezbollah in south Lebanon
- China stocks rally fizzles on stimulus worries amid Asia retreat
- Bangladesh's Yunus says no elections before reforms
Boeing says to buy subcontractor Spirit for $4.7 billion
US aircraft manufacturer Boeing said Monday it had reached a "definitive deal" to buy its subcontractor Spirit, which has faced scrutiny over production quality control in recent months.
"The merger is an all-stock transaction at an equity value of approximately $4.7 billion, or $37.25 per share," the company said in a statement.
Boeing disclosed in March that it was in talks to potentially reacquire Spirit, which it spun off in 2005 to lower costs.
"We believe this 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," said Boeing president and CEO Dave Calhoun.
He said by reintegrating Spirit, "we can fully align our commercial production systems", including safety and quality management systems, and "our workforce to the same priorities, incentives and outcomes -- centered on safety and quality".
Spirit AeroSystems builds fuselages and other significant parts for both Airbus and Boeing.
Boeing is by far Spirit's biggest customer, with around 70 percent of its revenue coming from the American plane maker in 2023.
The two companies have faced intense scrutiny since a near-catastrophic incident in January when a fuselage panel blew off a 737 MAX mid-flight.
O.Norris--AMWN