U.S. aircraft parts maker Spirit AeroSystems said on Monday it reached a deal with Bombardier Inc to cut the cash component of a deal to buy the Canadian planemaker's aerostructures unit by 45per cent to US$275 million as COVID-19 weighed on the aerospace sector.
The revised deal, expected to close on Oct. 30, sent Spirit AeroSystems shares down 7per cent while Bombardier stock edged 2.3per cent shares higher in midday trading.Spirit caused jitters among Bombardier investors in late September when it raised uncertainty over the deal's closing. The revised agreement includes a facility in Belfast which produces wings for Airbus SE's A220 jet, which is considered politically sensitive as the largest high-tech manufacturer in Northern Ireland.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SAP cuts 2020, mid-term guidance due to COVID-19 hitBusiness software group SAP cut its guidance for 2020 and for the medium term on Sunday, saying the reimposition of coronavirus lockdowns had hit ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
SAP dumps mid-term targets, cuts 2020 view as COVID-19 bitesBusiness software group SAP cut its guidance for 2020 and for the medium term on Sunday, saying the reimposition of coronavirus lockdowns had hit ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
As Covid-19 hits swing states, Biden and Trump show sharp contrastCIRCLEVILLE, OHIO/DALLAS, PENNSYLVANIA (REUTERS) - President Donald Trump and his Democratic rival Joe Biden gave starkly contrasting messages on Saturday (Oct 24) about the coronavirus pandemic, taking their campaigns for the White House on the road to swing states where Covid-19 cases are surging again.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Pence staff hit by Covid-19 outbreak as Biden says Trump has surrendered to pandemicBANGOR, MAINE/WILMINGTON, DELAWARE (REUTERS) - Vice President Mike Pence campaigned on Sunday (Oct 25) despite a Covid-19 outbreak among his aides and President Donald Trump claimed progress as the United States set records for daily infections, prompting Democratic challenger Joe Biden to accuse Trump of surrendering to the pandemic.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
As COVID-19 hits swing states, Biden and Trump show sharp contrastCIRCLEVILLE, Ohio: United States President Donald Trump and his Democratic rival Joe Biden gave starkly contrasting messages on Saturday (Oct 24) ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Colombia hits 1 million confirmed COVID-19 casesBOGOTA: Colombia reached 1 million confirmed COVID-19 cases on Saturday (Oct 24), its health ministry says, becoming the second country in Latin ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »