Boeing reportedly has deal to expand aerospace services biz
Boeing on Monday is expected to announce a deal to acquire KLX, a Florida-based aerospace parts and services company, according to the WSJ.
Why it matters: This deal would expand Boeing's (currently small) share of the aerospace services market, which is generally more profitable than aerospace manufacturing.
Pricing is unknown, and WSJ cautions that the deal could still collapse.
- KLX opened the trading day with a $3.7 billion market cap, but the report pushed that well above $4 billion.
- Boeing shares were down slightly on the day.