That is equal to $62.89 per share — a huge premium to McDonnell's closing price of $52

A lot of long time employees are still resentful of what happened years ago and I completely understand why. Actually the McDonnell family is the largest holder of Boeing stock, so the may have acquired Boeing. The McDonnells asked the Douglas commercial division to estimate the cost to have a complete line of aircraft to match Boeing and Airbus. Boeing will give McDonnell Douglas shareholders 0.65 Boeing shares for each McDonnell Douglas share. Boeing was already making money hand over fist, but McDonnell Douglas put their bean counters in control and just ruined the company. But, as Richard Aboulafia, a noted industry analyst with the Teal Group, told me, “McDonnell Douglas in effect acquired Boeing with Boeing’s money.”

Boeing bought the McDonnell Douglas for $14 billion. Even that sort of misstep could have been overcome, but for … It was the bean counters who ran McDonnell Douglas into the dirt and the same thing is happening to Boeing.

Technically, Boeing bought McDonnell Douglas. As several others have put it, McDonnell Douglas acquired Boeing with Boeing’s money. Shares of both enjoyed a slight bump.