Wichita’s biggest employer just put the brakes on a $650 million acquisition

Spirit AeroSystems is putting on hold a $650 million deal that would give it more work on military aircraft and commercial jetliners.

Wichita’s largest employer said Friday it is postponing the deal to acquire the parent company of Asco Industries in Belgium because of issues identified during a review of the acquisition by the European Commission.

Spirit didn’t specify what the issues are. Analysts could press the company for more details when Spirit hosts a conference call next Wednesday to discuss its third quarter 2018 earnings.

“Spirit has decided to withdraw its notification of the transaction from the Commission in order to address those issues,” the supplier to Airbus and Boeing said in a news release. “This will interrupt the Commission’s current review of the transaction. Spirit and Asco will work to refile the notification in a timely manner.”

(Read more: Wichita Eagle)