Boeing suppliers Hexcel and Woodward scrap merger as coronavirus hits demand [Reuters]
Boeing Company (The) (BA)
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Source: Reuters
Boeing suppliers Hexcel and Woodward scrap merger as coronavirus hits demand (Reuters) - Boeing Co ( BA.N ) suppliers Hexcel Corp ( HXL.N ) and Woodward Inc ( WWD.O ) on Monday called off their planned all-stock merger as widespread travel bans to curb the coronavirus pummels demand in the aerospace sector. The companies, which make and supply aircraft parts, had agreed to a merger in January in a $6.4 billion deal. “Although we are disappointed with this outcome, we are confident this is the right decision for our customers, our shareholders, and our employees,” the companies said in a joint statement. The market rout triggered by the coronavirus pandemic and the resulting economic downturn has thrown a wrench into corporate deal making. Last month U.S. printer maker Xerox Holdings Corp ( XRX.N ) walked away from its $35 billion hostile cash-and-stock bid for HP Inc ( HPQ.N ). Boeing, which halted the production of its grounded 737 MAX aircraft in January, said on Sunday it
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BA
Earnings
- 1/27/26 - Beat
BA
Sec Filings
- 2/26/26 - Form 4
- 2/26/26 - Form 4
- 2/24/26 - Form 144
- BA's page on the SEC website