Boeing Confirms Plans To Buy Brazilian aircraft maker Embraer - CALIPHATE MEDIA

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Sunday, 24 December 2017

Boeing Confirms Plans To Buy Brazilian aircraft maker Embraer

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Reports coming from both Boeing (NYSE:BA) and Brazil’s Embraer (BM$FBOVESPA:EMBR3,NYSE:ERJ) on Thursday have confirmed that they are currently talking on a merger prospect that could see Boeing acquire Embraer. There is no guarantee a transaction will result from these discussions. Boeing and Embraer do not intend to make any additional comments regarding these discussions.
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The current talk is coming on the hills of two previous attempts by Boeing to buy Embraer, which were rejected by the Brazilian government, which has a veto over any change of ownership despite the planemaker's privatization in the mid-1990s and the news that Airbus has purchase a majority stake in Bombardier Inc”s C series jetliner.
Following the confirmation by Boeing, the shares of Embraer have soared 20 percent and unions have warned that the jobs of 16,000 people employed by the Brazilian firm would be at risk from any deal, and the steelworkers' union in particular has vowed to veto the sale.

Any transaction would be subject to the approval of the Brazilian government and regulators, the two companies’ boards and Embraer’s shareholders.

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