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Boeing confirms $4.25 billion acquisition of KLX

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Boeing  is the biggest U.S. manufacturer of commercial airplanes. (GeekWire Photo)

The Boeing Co. says it has entered into a definitive agreement to acquire KLX Inc., a Florida-based aerospace parts distributor, as part of its drive to boost its global services business.

Today’s announcement comes just a few days after The Wall Street Journal reported that such a deal was in the works. The agreement involves an all-cash transaction for $63 a share as well as the assumption of about $1 billion of net debt, for a total of $4.25 billion, Boeing said.

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By Alan Boyle

Mastermind of Cosmic Log, contributing editor at GeekWire, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.

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