Boeing Co. shares rose after announcing the purchase of Spirit AeroSystems Holdings Inc. for $37.25 per share in an all-stock deal that values the supplier at $4.7 billion. This deal reunites the companies after a two-decade separation, as the embattled US planemaker seeks to address manufacturing defects.

The total transaction value is about $8.3 billion, including Spirit’s last reported net debt. Rival Airbus SE will also take over parts of Spirit that manufacture components for its operations, with the European planemaker paying a nominal price of $1 for the assets, while receiving $559 million in compensation.

“We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders, and the country more broadly,” said Boeing CEO Dave Calhoun. The deal also brings back former Boeing leader Pat Shanahan, the CEO of Spirit Aero, who is considered a potential successor to Calhoun.