M&A · Industrials · Aircraft Parts & Auxiliary Equipment, NEC
Boeing Co to acquire Spirit AeroSystems Holdings, Inc.
Announced Jul 1, 2024 · Closed Dec 8, 2025
Deal value$8.30BEV $8.30B
Premium30.0%To unaffected price
EV / Adj. EBITDA—1.3x EV / Revenue
ConsiderationAll stock$37.25 per share
Transaction
- Acquirer
- Boeing Co (BA)
- Target
- Spirit AeroSystems Holdings, Inc. (SPR)
- Buyer type
- Strategic
- Offer price per share
- $37.25
- Enterprise value
- $8.30B
- Status
- Closed Dec 8, 2025
Deal protections
- Break fee (target pays)
- $150M · 1.8%
- Reverse fee (buyer pays)
- $300M · 3.6%
- Go-shop
- No-shop
- Financing
- Committed · Morgan Stanley
Advisors
- To the acquirer
- PJT Partners
- To the target
- Moelis
- Moelis fee
- $3.8M
Sector context · Industrials
- Comparable deals
- 80 in the prior 24 months
- Premium
- 30.0% vs. 38.5% sector median
- EV / Adj. EBITDA
- Sector median 9.6x
- Break fee
- 1.8% vs. 2.8% sector median
Timeline
- AnnouncedJul 1, 2024
- Proxy filedDec 20, 2024
- Definitive proxyDec 20, 2024
- Shareholder voteJan 31, 2025
- ClosedDec 8, 2025
Valuation · fairness opinions
Discounted cash flow$17.29$30.24
Trading comparables$21.98$32.60
Trading comparables$16.54$27.57
Offer $37.25
Implied value per Spirit AeroSystems Holdings, Inc. share by analysis, from Moelis.