Boeing rises after offering new wage deal
Updates
** Boeing's BA.N shares gain 4.3%to $161.56
** Striking machinists at Boeing will vote on Wednesday on a new contract proposal, including a 35% pay hike over four years, that could end a costly five-week-old strike, co and union said on Saturday
** New proposal mayadd over $1 bln to co's wage bills over 4 yrs, analysts said
** Co had on Oct. 8 withdrawn its offer of 30% wage increase over four years, after talks attended by federal mediators broke down
** Union has been seeking a 40% hike and restoration of a defined benefit pension
** Boeing is also exploring asset sales in a bid to boost its fragile finances by shedding its non-core or underperforming units, according to a Wall Street Journal report on Sunday
** On Oct. 15, BA had announced a window for up to $25 bln in stock and debt offerings over the next 3 yrs, as well as a $10-bln credit agreement to shore up its finances
** Including session's gain, stock down 38% YTD
Reporting by Sukriti Gupta
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