Boeing’s Spirit Aero Bid Values 737 Supplier at $35 a Share (1)

Boeing Co. has offered to acquire Spirit AeroSystems Holdings Inc. for about $35 a share in a deal funded mostly with stock, according to people familiar with the matter.

The latest proposal represents a switch from Boeing’s plan to fund an all-cash offer after months of talks between the companies, said the people, who asked not to be identified discussing the confidential matter.

A $35 per share price would represent a premium of about 6% to Spirit’s stock as of Monday’s close, suggesting an equity valuation of $4.1 billion. It’s also a 22% upside to its closing price on Feb. ...