April 6, 2020 / 11:47 AM / 4 months ago

Boeing suppliers Hexcel and Woodward call off merger as coronavirus disrupts demand

April 6 (Reuters) - Boeing Co suppliers Hexcel Corp and Woodward Inc on Monday called off their planned all-stock merger citing disruption in demand due to the coronavirus crisis.

The companies had agreed to a merger in January in a $6.4 billion deal.

“Although we are disappointed with this outcome, we are confident this is the right decision for our customers, our shareholders, and our employees,” the companies said in a joint statement. (Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)

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