Spirit AeroSystems Holdings terminated the $420m acquistion of Asco Industries.

Spirit AeroSystems Holdings, a developer of aerostructures, terminated the $420m acquistion of Asco Industries, which engages in the development, manufacture, treatment, and assembly of steel and titanium high precision components for the aerospace industry. "On June 5, Spirit notified Asco that its board of directors determined to terminate the outstanding contingent consideration agreement with respect to the conditional contingent consideration. However, Spirit and Asco’s boards have not yet reached a definitive agreement regarding revised terms for the transaction. As a result, Spirit and Asco are evaluating alternatives to resolve the matters resulting from their relationship," Asco. On October 31, 2019, Spirit lowered the purchase price from $604m to $420m.