{"id":7957,"date":"2020-04-07T05:45:49","date_gmt":"2020-04-07T10:45:49","guid":{"rendered":"http:\/\/planesintheair.com\/?p=7957"},"modified":"2020-04-07T05:45:49","modified_gmt":"2020-04-07T10:45:49","slug":"boeing-suppliers-hexcel-woodward-scrap-merger-plan","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=7957","title":{"rendered":"Boeing Suppliers Hexcel & Woodward Scrap Merger Plan"},"content":{"rendered":"\n
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(Reuters) – Boeing Co suppliers Hexcel Corp and Woodward Inc on Monday called off their planned all-stock merger as widespread travel bans to curb the coronavirus pummels demand in the aerospace sector.<\/p>\n\n\n\n

The companies, which make and supply aircraft parts, had agreed to a merger in January in a $6.4 billion deal.<\/p>\n\n\n\n

“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.<\/p>\n\n\n\n

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 walked away from its $35 billion hostile cash-and-stock bid for HP Inc.<\/p>\n\n\n\n

Boeing, which halted the production of its grounded 737 MAX aircraft in January, said on Sunday it would extend the suspension of production at its Washington state facilities until further notice.<\/p>\n\n\n\n

Boeing is Hexcel’s second-biggest customer, accounting for a quarter of the company’s annual sales. Hexcel also supplies Airbus SE.<\/p>\n\n\n\n

Woodward gets about 15% of its annual sales from Boeing, its biggest customer.<\/p>\n\n\n\n

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta and Devika Syamnath)<\/p>\n\n\n\n

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Boeing Co suppliers Hexcel Corp and Woodward Inc on Monday called off their planned all-stock merger as widespread travel bans to curb the coronavirus pummels demand in the aerospace sector.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10172,4510,798,89,5804,799,5637,10701,10700,5992,5670,2203,4957,5676,10169,10176,1397,10195,10171,868,10182],"tags":[45,167,8077,47,464,420,2446,11287,160,4118,7584,3479,3160,41,2234,2830,10030,10945,3796,2493,11288,11281,2837,11086,6882,4414,3709,10020,11285,11276,11278,807,8831,7665,2000,2421,1567,46,166,412,11286,10938,1958,1485,7434,11282,515,7597,9786,1288,11279,1123,3248,1851,11289,1634,3535,101,3324,10757,3181,6138,1691,1658,1916,11280,631,11284,1013,8275,11277,11283],"class_list":["post-7957","post","type-post","status-publish","format-standard","hentry","category-aerospace","category-aerospace-news","category-airbus-news","category-aviation-news","category-avionics","category-boeing-news","category-business-news","category-coronavirus","category-covid-19","category-economic-news","category-economy-news","category-finance-news","category-global-politics","category-international-news","category-news","category-stock-news-2","category-stock-news","category-transport","category-transportation","category-transportation-news","category-travel","tag-45","tag-aerospace","tag-agreed","tag-airbus","tag-aircraft","tag-airline","tag-all","tag-ankit-ajmera","tag-aviation","tag-away","tag-bans","tag-bengaluru","tag-bid","tag-boeing","tag-cash","tag-companies","tag-coronavirus","tag-curb","tag-customers","tag-demand","tag-devika-syamnath","tag-downturn","tag-economic","tag-editing","tag-employees","tag-facilities","tag-grounded","tag-halted","tag-hewlett","tag-hexcel","tag-hits","tag-holdings","tag-hostile","tag-hp","tag-joint","tag-maker","tag-market","tag-max","tag-merger","tag-news","tag-packard","tag-pandemic","tag-parts","tag-plan","tag-planned","tag-printer","tag-production","tag-reporting","tag-resulting","tag-reuters","tag-rout","tag-scrap","tag-sector","tag-shareholders","tag-shounak-dasgupta","tag-state","tag-statement","tag-stock","tag-suppliers","tag-supplies","tag-supply","tag-suspension","tag-transport","tag-transportation","tag-travel","tag-triggered","tag-u-s","tag-walked","tag-washington","tag-widespread","tag-woodward","tag-xerox"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/7957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7957"}],"version-history":[{"count":1,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/7957\/revisions"}],"predecessor-version":[{"id":7961,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/7957\/revisions\/7961"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}