Boeing, which is facing controversies, announced the acquisition of Spirit Aerosystems, deal worth $4.7 billion

Boeing, which is embroiled in controversy, has announced the acquisition of Spirit Aerosystems for $4.7 billion. Spirit Aerosystems is already a part of Boeing's manufacturing network. Boeing, headquartered in Arlington, Virginia, announced the acquisition in a statement late Sunday night. The company stated that the equity value of this acquisition is $4.7 billion, or $37.25 per share. The total value of the transaction is approximately $8.3 billion, including Spirit's reported net debt.

Spirit has also announced the deal on its website and social media. Boeing President and CEO Dave Calhoun said in a statement, "We believe this deal is in the best interest of the flying public, our airline customers, Spirit and Boeing employees, our shareholders, and the country.

Spirit AeroSystems was previously owned by Boeing and now after the acquisition, the company coming under Boeing once again will improve the quality and safety of the aircraft manufacturer's aircraft. Boeing is currently under scrutiny from regulators and Congress. Calhoun said, "By reintegrating Spirit, we will be able to use our commercial production systems, including our safety and quality management systems, and our workforce for the same priorities, incentives, and results. This decision is focused on safety and quality.