Boeing Shares Fell On Wednesday - Here's Why - video Dailymotion

Benzinga

Boeing shares slipped after the FTC ordered the company to divest key Spirit Aerosystems assets as a condition of its proposed $8.3 billion acquisition. The order forces Boeing to sell Spirit units that supply Airbus and to divest the Malaysia Subang facility to CTRM, with transition support required for both Airbus and CTRM. Regulators said the divestitures protect competition across commercial and military aircraft programs.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Boeing shares fell on Wednesday after the Federal Trade Commission

00:05ordered the company to divest major Spirit Aerosystems assets, according to Benzinga.

00:11The move addresses antitrust concerns tied to Boeing's proposed $8.3 billion acquisition

00:16of Spirit's Aerostructures business. The FTC's consent order requires Boeing to sell Spirit

00:21businesses that supply Airbus and to divest the Sabang Malaysia Aerostructures facility

00:26to Composites Technology Research Malaysia. The order also requires Boeing to provide

00:31transition support to Airbus and CTRM to ensure smooth production handovers.

00:36The divestitures are designed to preserve competition in commercial and military markets

00:40by ensuring rival access to fuselages and wings and maintaining non-discriminatory supply

00:46for existing and future military contracts. Shares were down by 1.38% to $202.54 by Wednesday's

00:54market close, according to data from Benzinga Pro. For all things money, visit Benzinga.com.

Boeing Shares Fell On Wednesday - Here's Why

Category

Transcript

Be the first to comment

Recommended