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Friday, April 19, 2024
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Boeing and Brazil’s Embraer in takeover talks: report

By  Associated Press
   
SHARE Boeing and Brazil’s Embraer in takeover talks: report
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Shares of the aircraft maker Embraer soared after reports that the Brazilian company has spoken with Boeing Co. about an acquisition. | AP file photo

NEW YORK — Shares of the aircraft maker Embraer are up 17 percent after media reports that the Brazilian company has spoken with Boeing about an acquisition.

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

Chicago-based 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 is highly prized by the Brazilian government, which would have to sign off on the deal. According to the Journal, it holds veto power over any sale.

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