Boeing Co (BA) has pulled out of a $4.2 billion agreement to purchase Embraer SA’s (ERJ) commercial aviation business.The aerospace company announced on Saturday that it has terminated its Master Transaction Agreement (MTA) with Embraer, after the latter did not satisfy the necessary conditions. The two companies had planned to create a joint venture with Embraer’s commercial jets unit and a second joint venture to develop new markets for the C-390 Millennium medium airlift and air mobility aircraft.Under the terms of the agreement Boeing had an option to terminate the agreement until April 24.”Boeing has worked diligently over more than …read more
Source:: Yahoo Finance
