Embraer hits out after Boeing scraps $4.2 billion tie-up
Saturday, 25 April 2020 Boeing Co on Saturday pulled out of a $4.2 billion deal to buy Embraer's commercial jets division, sparking a furious response from its jilted partner and leaving plans for a U.S.-Brazil alliance from regional jets to jumbos in tatters.
The CEO of Brazilian jet maker Embraer said Monday its $4.2 billion commercial jet deal with Boeing can't be revived, and the Brazilian company has begun arbitration proceedings against the American aerospace giant. As Fred Katayama reports, shares of both companies dropped.
Boeing announced that it is backing out of its $4.2 billion deal that would have allowed the troubled aerospace company to purchase 80 percent of Embraer's commercial aviation business. The Brazilian..