Boeing/Embraer Merger Could Be Cancelled: Deadline Expired April 24th

Neither company has fulfilled the contractual conditions for the merger, and the deadline for closing the deal was yesterday, April 24th

RIO DE JANEIRO, BRAZIL - The directors of the Brazilian aircraft manufacturer Embraer met on Friday, April 24th, to discuss whether the merger of its regional commercial aircraft division with the American aircraft manufacturer Boeing would materialize.

Neither company has fulfilled the conditions precedent for closing the deal - announced in July 2018 - within the deadline set in the contract, which expired yesterday. Both parties are entitled to rescind the deal and have already alerted each other of the fact. When they met, the companies valued the Brazilian company's regional jet business at US$4.75 billion.

British newspaper Financial Times . . .

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