Textron combats jet slump with $1.4 billion buyout of Beechcraft

TEXTRON INC. will buy Wichita, Kan.-based planemaker Beechcraft Corp. for $1.4 billion, the company announced Thursday, a buy that complements Textron's lineup of Cessna piston-engine and turboprop planes. Above, Beechcraft's Bonanza G36. / COURTESY BEECHCRAFT CORP.
TEXTRON INC. will buy Wichita, Kan.-based planemaker Beechcraft Corp. for $1.4 billion, the company announced Thursday, a buy that complements Textron's lineup of Cessna piston-engine and turboprop planes. Above, Beechcraft's Bonanza G36. / COURTESY BEECHCRAFT CORP.
CHICAGO – Textron Inc., the manufacturer of Cessna aircraft, will boost its lineup of propeller-driven aircraft after reaching a deal to buy Beechcraft Corp. for $1.4 billion, as it seeks to counter a slump in business-jet sales. The Providence-based company will purchase all outstanding equity interests in Beech Holdings LLC, the parent of Beechcraft, it…

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