Boeing, Brazil’s Embraer confirm talks over possible deal

NEW YORK — Shares of the aircraft maker Embraer soared on Thursday after the Brazilian company confirmed media reports that it’s in talks with Boeing regarding a possible deal.

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

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, however is highly prized by the Brazilian government, which would have to sign off on the deal. The government has veto power over a change in controlling interest in the company.

Embraer and Chicago-based Boeing said Thursday there is no guarantee that a transaction will result from the talks, and they decline to make any further comments.

The U.S. traded shares Embraer SA rose $4.43, or 22 per cent, to close Thursday at $24.42. Boeing’s stock slipped $2.87, about 1 per cent, to $295.03.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Red Deer woman loses student visa, ‘has no choice but to leave’ Canada

Victoria Forschle and her family came to Canada in 2008

Red Deer up to four active COVID-19 cases

Province announced 77 new confirmed cases across Alberta Friday

Agriculture trade show is a must, says Red Deer chamber

Red Deer & District Chamber of Commerce promotes trade show

$21M of improvements to be made to Olds College

More than $21 million in improvements will be made to Olds College,… Continue reading

NHL’s road to Edmonton and Toronto featured plenty of obstacles

Since early March, the novel coronavirus has affected almost every decision facing… Continue reading

How Conservative leadership hopefuls would address the WE scandal if they win

The ethics commissioner has been called in to see if Trudeau broke conflict-of-interest law

With debt, deficit numbers out, experts say Liberals need plan for growth

Borrowing will push the federal debt past $1 trillion by the end of the fiscal year

Pedestrian-only downtown a hit with residents as St. John’s adapts to pandemic

‘The city really got this right this time. We’re very happy’

Bosnian-Canadians mark 25th anniversary of Srebrenica massacre

‘It’s sad for a child to think that it’s normal, actually, to … have family members killed’

No winning ticket for Friday night’s $35 million Lotto Max jackpot

TORONTO — No winning ticket was sold for the $35 million jackpot… Continue reading

Most Read