Boeing shifts to stock deal to acquire Spirit Aerosystems
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 25 June 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Tuesday, June 25th. I'm Julie Morgan. |
| 0:13.0 | Boeing goes from cash to stock in its offer for Spirit Aerosystems. |
| 0:18.0 | Novo Nordisk is doubling down on injectables, |
| 0:21.0 | and Oracle is warning that a ban of |
| 0:23.7 | TikTok would hurt more than just TikTok and its users. |
| 0:28.5 | Boeing has offered to acquire Spirit Arrow systems in a mainly stock deal that values the supplier at about |
| 0:35.1 | $35 a share. According to a Wall Street Journal report late Monday which |
| 0:40.2 | cited people familiar with the matter, Boeing was closing in on an all-cash deal for spirit over the weekend |
| 0:46.6 | when the company switched to an offer that consisted mainly of stock. |
| 0:50.9 | A $35 price represents a premium of about 6% to Spirit's closing price on Monday. |
| 0:57.2 | Under the proposed deal, Spirit will shed operations that make parts for Boeing's rival Airbus. |
| 1:03.0 | This latest update comes after reports on Thursday that Spirit made substantial progress in separate talks with Airbus. |
| 1:11.0 | Novo Nordisk will invest more than $4 billion to build a second fill and finish manufacturing facility in Clayton North Carolina, |
| 1:21.0 | focused on injectable medications including current and future ones for obesity. |
| 1:26.7 | This development comes as NOVA, which makes the weight loss drug Wegovi, and rival Eli |
| 1:31.8 | Lily Lillie, which markets Zepp Bound, are both experiencing supply constraints |
| 1:36.5 | due to high demand for the treatments. |
| 1:39.1 | The Danish drugmaker said the new plant will add 1.4 million additional square feet of production space. |
| 1:45.0 | Once the plant is finished between 2027 and 2029, the building is expected to add 1,000 new jobs. |
| 1:52.8 | Novo already has 2,500 employees in the area. |
| 1:56.8 | The drugmaker noted that this year it plans to invest 6.8 billion dollars |
... |
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