Less than a year after emerging from bankruptcy, Wichita, Kan.–based aircraft manufacturer Beechcraft has agreed to be acquired by Cessna Aircraft Company parent Textron in an all-cash deal worth $1.4 billion.
Formerly known as Hawker Beechcraft, the target company—which has produced a variety of civilian and military aircrafts since its founding 81 years ago—filed for Chapter 11 protection in May 2012 amid mounting debts tied to a sharp decline in sales of its now-defunct Hawker line of private business jets.
