Boeing Co on Saturday said it had canceled a $4.2 billion deal to buy the commercial jets division of Embraer , unraveling years of work on what the Brazilian planemaker expected to be a transformative move. Boeing’s statement confirmed a Reuters story earlier on Saturday and followed a story on Friday in which Reuters reported that the deal was close to collapse as the two parties neared a crucial midnight deadline. Boeing said in the statement that Embraer had failed to meet certain conditions for the deal to go through, although it did not specify which ones. …read more
Source:: Yahoo Finance
