Boeing (BA) is reportedly in talks to acquire aerospace manufacturer Spirit AeroSystems (SPR), according to Wall Street Journal reports. While Spirit AeroSystems' stock moves higher following this news, it drew heavy criticism for its involvement in the production of Boeing's 737 Max fuselage.
Yahoo Finance Live anchor Akiko Fujita breaks the news.
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Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
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AKIKO FUJITA: Boeing is reportedly in talks to acquire Spirit AeroSystems, according to a report out from "The Wall Street Journal." Spirit which makes Boeing's 737 MAX jet fuselages and other airframe components is also exploring selling operations in Ireland, which makes parts for Boeing's rival Airbus. This comes as Spirit has been under fire this year under scrutiny for Boeing's manufacturing problems.
Take a look at where those shares are moving. Boeing coming down just slightly here. But Spirit AeroSystems here, that stock was halted temporarily on the news has now resumed trade. It is up about 17% roughly. According to the report, Boeing CEO Dave Calhoun initially shot down the idea that the company may acquire Spirit's.
