Canada's Onex Appears To Be The Front-Runner

British manufacturer GKN appears to be out. Now, Boeing is courting Canadian financial giant Onex as a potential buyer of its commercial facilities in Kansas and Oklahoma and, by all accounts, that company has money to burn.

For months, Boeing has been looking for a suitable buyer -- a company that would take on its plants in Wichita (KS), Tulsa and McAlester (OK). The Wichita Eagle reports GKN walked away from the deal, but that Boeing is now in final negotiations with Onex.

"We did put in an indicative offer to Boeing regarding the outsourcing of the Wichita plant, and we do not expect the issue will be taken any further," said a GKN spokesman in London. He was quoted by Reuters.

Nobody's talking about this on the record -- at least, not yet. Some industry analysts say that could be a sign that there's no deal at all in the works.

There are reports that Onex may not be the only company vying for the Midwestern commercial plants. The Carlyle Group and its subsidiary, Vought, are reportedly in the running as are several other firm. Boeing CEO Harry Stonecipher says he'll have a decision by the end of the year. Union leaders say they expect an announcement around Thanksgiving.

FMI: www.boeing.com