By Kiel Porter, Julie Johnsson and Siddharth Philip | Bloomberg
Boeing Co. has been exploring the sale of at least two of its defense businesses, as the beleaguered aircraft manufacturer fights through its biggest crisis in years.
Financial advisers have contacted potential buyers on Boeing’s behalf to gauge interest in several smaller units, according to people familiar with the discussions, who asked not to be identified because the deliberations are confidential. The efforts have been underway for about a year, predating the Jan. 5 accident that has placed the planemaker under intense scrutiny, one of the people said.
Also see:Â Boeing hit by damning report faulting safety procedures
Assets potentially on the block include Boeing’s Digital Receiver Technology Inc. unit, which makes products for government intelligence and defense customers, the people said. Possible buyers have also been sounded out about some defense programs in its global services division, some of the people said.
The planemaker earlier explored divesting its Argon ST subsidiary, although that process is on hold, one of the people said. It acquired Argon, which makes systems for military command and control, surveillance and reconnaissance, for about $775 million in 2010.
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Boeing declined to comment. The stock rose as much as 1.1% after Bloomberg reported on the deliberations.
The company also continues to weigh options for its stake in United Launch Alliance, the rocket-launch joint venture co-owned with Lockheed Martin Corp., the people said. Bloomberg News reported in January that ULA had attracted interest from Jeff Bezos’s Blue Origin LLC.
Boeing has made no definitive decision on disposals, and plans could still change, some of the people said. The company routinely reviews its portfolio of assets, these people said.
Spirit talks
The deliberations come as Boeing…
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