Spirit AeroSystems Holdings, Inc. [NYSE: SPR] and Asco Industries N.V. ("Asco") have been working cooperatively with the European Commission (the "Commission") in recent weeks in its review of Spirit's proposed acquisition of S.R.I.F. N.V., the parent company of Asco.
During the course of its Phase 1 review, the Commission identified issues that it requires to be addressed regarding the transaction. Consequently, Spirit has decided to withdraw its notification of the transaction from the Commission in order to address those issues. This will interrupt the Commission's current review of the transaction. Spirit and Asco will work to refile the notification in a timely manner.
Spirit remains confident that the transaction will be completed and remains enthusiastic about the strategic fit of Asco with the rest of its operations.