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0.0019297869437243 -0.000994132667979288 0.0019297869437243 0.0019297869437243 0.000955147073156493 0.00194927974113561 -0.0117151712442253 -0.0117151712442253
Stock impact report

Embraer takes Boeing to arbitration over failed deal as shares plummet [Reuters]

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
Company Research Source: Reuters
Embraer takes Boeing to arbitration over failed deal as shares plummet SAO PAULO (Reuters) - Brazil’s Embraer SA ( EMBR3.SA ) on Monday said it had begun an arbitration process against Boeing Co ( BA.N ), after the U.S. planemaker abruptly canceled a $4.2 billion deal over the weekend that was years in the making. Embraer shares fell as much as 16% in Sao Paulo to a more than 8-year low on news of the cancellation, suggesting investors had hoped until the last minute that the takeover agreement would not fall apart. The sudden collapse, triggered by a deadline that Boeing refused to extend, drew an irate response from Embraer on Saturday. But on Monday, when Embraer executives hosted a call with analysts, the angry rhetoric was largely absent. Embraer is in a delicate situation, having bet the future of the company on Boeing only to find itself now in isolation and without a Plan B, all while the coronavirus crisis ravages the travel industry. Still, Embraer tried to reassure inve Show less Read more
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