Boeing (NYSE:BA) submitted proposals to European regulators aimed at easing competition concerns over its planned acquisition of Spirit AeroSystems (NYSE:SPR), the world’s largest independent supplier of aircraft structures, according to a filing on the European Commission’s website.
The U.S. aerospace company unveiled the $4.7 billion buyback last July, a transaction that also involves Airbus (OTCPK:EADSF) (OTCPK:EADSY) assuming control of Spirit’s (NYSE:SPR) struggling operations in Europe.
The European Commission, which oversees antitrust enforcement across the bloc, has now extended its deadline for a decision on the deal to October 14. Regulators are expected to seek input from industry players before deciding whether the remedies offered by Boeing (NYSE:BA) are sufficient, or if a deeper four-month probe will be required.
The acquisition has already received unconditional clearance from the United Kingdom’s Competition and Markets Authority, which approved the transaction last month.