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That offer is worth about $4.08 billion, as per Reuters
calculations based on Spirit's outstanding shares as of May 7.
The per-share offer represents a premium of nearly 6% over
Spirit's stock closing price on Monday and a 22.4% upside to its
closing price on Feb. 29, the day before Boeing's takeover talks
became public.
Spirit's shares slid 6.3% to $31.30 in premarket trading on
Tuesday. Boeing's shares dropped about 1%, which would reduce
the value of an all-stock offer.
The U.S. planemaker switched its offer from an all-cash one and
while the final terms of the latest offer are still being
discussed, it could include a small amount of cash, Bloomberg
reported, adding the deal is expected to be announced within a
matter of days.
Reuters reported last week that Boeing was nearing a deal to buy
Spirit after months of talks.
Spirit said in a statement that it remains "focused on providing
the best quality products for our customers". Boeing did not
immediately respond to a Reuters request for comment.
Boeing initiated talks earlier this year to buy back the
Wichita, Kansas-based supplier it spun off in 2005, seeking to
stabilize a key part of the supply chain for its
strongest-selling jet following a mid-air blowout on a new 737
MAX in January.
However, talks hit a stumbling block over Spirit's work for
Airbus, with the European group threatening to block any deal
that involved Boeing building parts for its newest models.
Boeing and Airbus have broadly succeeded in dividing Spirit's
programs into work that Boeing will take back, along with work
that the Airbus will take, Reuters has reported.
Still, Airbus, on Monday, lowered its widely watched forecast
for plane deliveries this year, which CEO Guillaume Faury
blamed, in part, on the uncertain outlook for Spirit's
industrial commitments.
(Reporting by Nilutpal Timsina in Bengaluru; Editing by Janane
Venkatraman, Rashmi Aich and Savio D'Souza)
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