The UK government's Competition and Markets Authority, or the CMA, has cleared Boeing Co.'s (NYSE:BA) acquisition of Spirit Aerosystems Holdings Inc. (NYSE:SPR).
Cleared The Acquisition Deal, Says CMA
"The CMA has cleared the anticipated acquisition by The Boeing Company of Spirit Aerosystems Holdings, Inc.," the agency said in a statement published on Friday.
CMA also announced that the full text detailing the agency's decision to clear the acquisition "will be published shortly." The agency had launched the investigation into the deal in late June this year.
Source: CMA
Boeing's $4.7 Billion Spirit Acquisition
The news comes as Boeing's acquisition deal for Spirit AeroSystems, valued at over $4.7 billion, was probed by the authorities.
A spokesperson for Spirit said it was expected by the company. “The inquiry by the Competition and Markets Authority was anticipated and is part of the normal process for acquisitions of this nature."
Boeing's Workforce On Strike, Alaska Airlines Lawsuit
The clearance from CMA could provide a boost to Boeing, which has been grappling with issues recently. The aerospace giant is looking at a possible hindrance in production as over 3,200 workers rejected a new contract offer in Illinois and Missouri.
Elsewhere, the company is also facing a lawsuit filed by flight attendants on board the Boeing 737-9 MAX aircraft operated by Alaska Air Group Inc. (NYSE:ALK), which experienced a mid-air cabin blowout.
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