Boeing's US$4.7 billion Spirit deal faces UK antitrust probe
[NEW YORK] Boeing's US$4.7 billion deal to buy Spirit AeroSystems Holdings will face UK antitrust investigation, the country's antitrust watchdog said.
The Competition and Markets Authority will decide whether the deal raises the risk of substantial lessening of competition in the UK. Boeing announced the deal last year with the total transaction value of US$8.3 billion, that included Spirit's net debt.
The CMA will make a decision to close the investigation or launch a deeper probe by August 28, it said in a notice published on Monday (Jun 30).
The inquiry 'was anticipated and is part of the normal process for acquisitions of this nature,' a Spirit spokesperson said. Boeing's spokesperson didn't immediately respond to a request for comment.
The transaction, once completed, will reunite the firms two decades after Spirit was spun off in 2005 to trim costs. The merger will bring a key supplier for the 737, 787 Dreamliner and other commercial jets back to Boeing. BLOOMBERG
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Insurance can be one of the most straightforward entry points to legacy planning. Firstly, it is often less complex than any other legacy planning solutions, and can work alongside them as part of a broader legacy planning strategy. Secondly, it provides liquidity. Some plans offer a unique combination of certainty, protection and cash value, or even a guaranteed payout that can be distributed immediately after one's passing, unlike executing a will, which involves compiling a list of assets, applying for a grant of probate and so on. Lastly, insurance can help streamline wealth distribution. Policyholders can have the flexibility to vary the death benefit for each beneficiary and these can be amended if circumstances change. For example, if you intend to leave a business to one child and property to another, you could leverage insurance to help balance the difference in value. Legacy planning comprises many components and insurance can serve as one of its foundational pillars. 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The plan also offers the option to spread out the death benefit over multiple instalments. This is particularly helpful if dependents are not yet ready to manage a lump sum. These features of the HSBC Life Emerald Legacy Life III provide a level of adaptability to meet evolving and differing needs for different individuals. As the insurance arm of the HSBC Group, HSBC Life brings deep expertise and trusted capabilities to support high-net-worth clients in meeting their financial planning goals. We are proud to be recognised as the number one insurer by HNWI in the Affluential WealthLens Brand Affinity 2024 rankings, a testament to the trust that our customers have placed in us. Q: On a personal note, how does insurance play a part in your own legacy planning? Having worked in the insurance industry for two decades, I recognise the importance of ensuring my family's long-term well-being. That is why I have made insurance and health coverage a core part of my financial planning. I have also taken steps to plan for retirement and put in place strategies to build a legacy that empowers my children's aspirations. By starting with insurance years ago, I have been able to make adjustments along the way as my career progressed – from enhancing coverage and updating beneficiaries to customising how benefits are distributed. Ultimately, my goal has always been to ensure that my loved ones are comprehensively protected, even in my absence. Find out more about HSBC Life Emerald Legacy Life III here, or speak to any HSBC Life authorised distributors for more information. *Based on a 17-year-old male, non-smoker, who purchased a 15-year premium term plan, with US$500,000 minimum protection cover, up to age 85. Terms and conditions apply. This advertisement has not been reviewed by the Monetary Authority of Singapore.
