News 

KLX Inc. (“KLX” or the “Company”) (NASDAQ:KLXI), a leading distributor and value added service provider of aerospace fasteners and consumables, announced its intention to sell its Aerospace Solutions Group business to The Boeing Company.

KLX announced that the Company has entered into a definitive agreement to sell the Aerospace Solutions Group (“ASG”) to The Boeing Company (“Boeing”) for $63.00 per share in cash. The transaction with Boeing is valued at approximately $4.25 billion, including the assumption of approximately $995 million in net debt. Upon closing of the transaction, ASG will become part of the Boeing Global Services’ business. Boeing’s acquisition of KLX Inc. is conditioned upon the successful divestment and separation of KLX Inc.’s Energy Services Group (“ESG”). The transaction is also subject to customary closing conditions, including KLX shareholder approval and receipt of applicable regulatory approvals.