BUSINESS NEWS: Boeing to Acquire Aviall
The Boeing Co.(Chicago, Ill.) announced its plan to acquire Aviall Inc.(Dallas, Tex.), a provider of new aviation parts and services for the aerospace industry, in an $1.7-billion all-cash merger for $48 per share. Boeing will also assume approximately $350 million of net debt as part of the transaction. Aviall's 2005 revenue was $1.3 billion, with more than 25 percent growth expected in 2006. The completion of the transaction is subject to customary conditions and relevant authorities' approval, and is expected to close by the end of third quarter 2006.
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