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Investing.com -- Boeing (NYSE:BA) is seeking approval from the European Union for its planned acquisition of Spirit AeroSystems (NYSE:SPR), Reuters reported on Thursday, citing documents posted on the European Commission website.
The European Commission, which serves as the EU’s executive body, is scheduled to make its decision regarding the proposed acquisition by September 30.
The aerospace giant agreed in July 2024 to purchase its former subsidiary, which is recognized as the world’s largest standalone aerostructures company, in a stock deal valued at $4.7 billion.
As part of the arrangement, European aircraft manufacturer Airbus would assume control of Spirit AeroSystems’ loss-making operations that focus on the European market.
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