The British competition authority has approved Boeing’s $4.7 billion all-stock acquisition of Spirit AeroSystems, ruling that the deal does not pose any threat to market competition.
The ruling removes one hurdle for Boeing as it works to integrate its largest supplier, years after spinning it off, to improve quality control following a string of crises. Approvals from U.S. and EU regulators are still pending, with closing expected in the fourth quarter.
Boeing shares rose 0.8% on the news. Spirit, the world’s biggest independent aerostructures maker, will also transfer some Airbus-related operations to the European planemaker. The UK investigation launched in June concluded without moving to an in-depth review.
