Business

December 22, 2017
 

Boeing, Brazil’s Embraer confirm talks over possible deal

Shares of the aircraft maker Embraer soared Dec. 21 after the Brazilian company confirmed media reports that it’s in talks with Boeing regarding a possible deal.

The Wall Street Journal reported that Boeing would be willing to pay a big premium to buy the company that has a market value of about $3.7 billion.

Boeing would get a bigger footprint in the regional jet industry. That is something that rival Airbus is already attempting to do, with plans to buy a majority stake of Canada’s Bombardier Inc.

Embraer, however is highly prized by the Brazilian government, which would have to sign off on the deal. The government has veto power over a change in controlling interest in the company.

Embraer and Chicago-based Boeing said Dec. 21 there is no guarantee that a transaction will result from the talks, and they decline to make any further comments.

The U.S. traded shares Embraer SA rose $4.43, or 22 percent, to close Thursday at $24.42. Boeing’s stock slipped $2.87, about 1 percent, to $295.03.




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