The world’s largest aerospace company has agreed to purchase Wellington-based KLX Inc. in a $4.25 billion deal announced early Tuesday.
Boeing Co. (NYSE: BA) plans to buy the local company at about half a billion dollars above KLX’s reported market value with the goal of expanding its aircraft services business. The all-cash transaction comprises $63 per share of KLX (Nasdaq: KLXI) and the assumption of $1 billion in debt. It’s expected to close by the third quarter of 2018 and is subject to regulatory approvals.
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Boeing to acquire KLX for $4.25 billion
