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Boeing, 31 July 1997: "the merger of Boeing and McDonnell Douglas will become effective at 12:01 a.m. (Eastern Daylight Time) on Aug. 1, 1997. Value of the transaction is $16.3 billion."[1]- Beginn
- 1. Aug. 199790 % SICHERHEITlaut der Quelle
Boeing Completes Its Merger With McDonnell Douglas
Boeing and McDonnell Douglas merged at 12:01 a.m. EDT on 1 August 1997 in a US$16.3 billion stock deal, uniting the makers of the 737 and 747 with the DC-9, DC-10 and MD-11 line.
- Boeing said on 31 July 1997 that merger filings had been submitted in Maryland and the merger became effective at 12:01 a.m. EDT on 1 August 1997; McDonnell Douglas stock stopped trading on the New York Stock Exchange at that day's close[1]
- Each McDonnell Douglas share became 1.3 Boeing shares, a transaction valued at US$16.3 billion[1]
- Shareholders had approved on 25 July 1997, with slightly more than 99 percent of Boeing votes and 75.8 percent of McDonnell Douglas votes; Chairman Phil Condit said the combined companies "will redefine the future of flight"[5]
- The deal was first announced in December 1996: Condit would be chairman and CEO and McDonnell Douglas head Harry Stonecipher president and COO, the new company to be called Boeing with a St. Louis division named McDonnell Douglas[6]
- On 4 August 1997 the new Boeing began operations as one company of about 220,000 employees, with customers in 145 countries and a backlog above US$100 billion[4]
Notable features
- Commercial lines inherited from McDonnell Douglas: the MD-80 and MD-90 twinjets and the MD-11 trijet; the MD-95 was later renamed the Boeing 717[2]
Kosten $16.3B (≈€15B)