Boeing reportedly agrees to buy Wichita supplier Spirit Aerosystems

Boeing agreed on Sunday to buy Spirit AeroSystems for more than $4 billion, according to two individuals familiar with the situation, capping months of talks over a deal that the US planemaker hopes will help alleviate a spiraling safety crisis.

Boeing will pay $37.25 per share for Spirit Aero in an all-stock transaction, according to the two sources. Boeing and Spirit's boards met on Sunday and reached an agreement, and an official announcement is expected early Monday.

The transaction, which is pending to regulatory approval, would result in the dissolution of Spirit, with some of the Kansas-based supplier's assets going to French planemaker Airbus.

Airbus, Spirit, and Boeing declined to comment.