Spirit Aerosystems this month announced a so-called secondary offering of almost 8.2 million public shares held by controlling investment group Onex—which took Spirit private from Boeing in 2005—and current and former Spirit managers, as well as a buyback of four million of those shares by Spirit. Onex’s sale means that company essentially no longer controls Spirit, while Spirit’s roughly $127 million cash buyback cuts outstanding shares by almost 3%, according to RBC ...

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