Spirit Not To Acquire Asco And Describes Bombardier US$500 Million Asset Buy As Uncertain...
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Spirit AeroSystems expects not to close its planned $420 million acquisition of Belgium company Asco and has raised uncertainty about closing a planned $500 million purchase of Bombardier's commercial aviation businesses.
Wichita-based Spirit, which makes airframes and aircraft components, says the European Commission is unlikely to approve its purchase of aerospace component supplier Asco by the deal's 1 October deadline.
At that time, the purchase agreement will "automatically terminate", and Spirit does not intend to extend the deadline.
Additionally, "there can be no assurances" that conditions related to Spirit's planned Bombardier acquisition will be met by that...
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