Arlington, Jul 1 (AP) Boeing announced plans to aquire Spirit AeroSystems for USD 4.7 billion in an all-stock transaction for the manufacturing firm.

Boeing, located in Arlington, Virginia, announced the purchase in a statement late Sunday.

Also Read | SK On Salary Halt: SK Group's Loss-Making Battery Unit To Freeze Annual Pay of All Executive-Level Officials Until It Becomes Profitable.

The acquisition's equity value of USD 4.7 billion is USD 37.25 per share, while the total value of the deal is around USD 8.3 billion, which includes Spirit's last reported net debt, the aerospace company said.

Spirit, located in Wichita, Kansas, manufactures key parts for Boeing aircraft. (AP)

Also Read | R Sampanthan Dies: Veteran Sri Lankan Politician and Tamil Leader Passes Away at 91.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)