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Stock impact report

Boeing Backs Out of $4.2 Billion Embraer Joint Venture Deal [Yahoo! Finance News]

Embraer S.A. (ERJ) 
Last embraer s.a. earnings: 3/26 06:00 am Check Earnings Report
US:NYSE Investor Relations: ri.embraer.com.br
Boeing Co BAERJThe 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 two years to finalize its transaction with Embraer. Over the past several months, we had productive but ultimately unsuccessful negotiations about unsatisfied MTA conditions," said Marc Allen, president of Embraer Partnership & Group Operations. "It is deeply disappointing. But we have reached a point where continued negotiation within the framework of the MTA is not going to resolve the outstanding issues."Boeing and Embraer had already received approv Show less Read more
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