Textron to buy Beechcraft for $1.4 billion -report

Fri Dec 20, 2013 2:14pm EST

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Dec 20 (Reuters) - Textron Inc has agreed to buy aircraft maker Beechcraft for $1.4 billion, the Financial Times reported on Friday, citing unnamed sources.

Beechcraft emerged from bankruptcy protection in February and hired Credit Suisse to seek buyers for its jet plane business, which has been losing money, the newspaper reported.

Textron declined to comment. Beechcraft was not immediately available to comment. (Reporting by Alwyn Scott and Andrea Shalal-esa; Editing by John Wallace)

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