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Stock impact report

Embraer takes Boeing to arbitration over failed deal as Brazil eyes China tie-up [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 Brazil eyes China tie-up SAO PAULO/BRASILIA (Reuters) - Brazil’s Embraer SA said on Monday it had begun an arbitration process against Boeing Co, after the U.S. planemaker abruptly canceled a $4.2 billion deal over the weekend that was years in the making. The deal’s collapse was not well received by investors who appeared to have hoped until the last minute that the takeover would not fall apart. Boeing shares fell to an 8-year low before paring losses and closing 7.5% lower. But Brazil’s government, which used to own Embraer and is still the company’s largest military client, took a more upbeat tone. It eyed China as a potential new partner for the planemaker, even as several senior Brazilian government figures have attacked the Chinese government recently. Brazil’s Vice President Hamilton Mourao, a retired army general, called the turn of events a “blessing in disguise.” “We have the know-how, they have the demand,” Mourao sai Show less Read more
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