April 25, 2020 / 1:09 PM / in 4 months

Boeing pulls out of Embraer merger talks -sources

PARIS/SAO PAULO, April 25 (Reuters) - Boeing Co has told the Brazilian planemaker Embraer that Embraer has not met conditions needed to complete a civil aerospace tie-up, meaning the $4.2 billion deal is off for the foreseeable future, two people familiar with the matter said.

In a letter late on Friday, Embraer declined to agree to an extension to an April 24 deadline to close the deal, which calls for Boeing to buy 80% of Embraer’s commercial aerospace activities, the sources said.

Boeing later confirmed the decision. Embraer, the world’s third largest planemaker, declined to comment. (Reporting by Marcelo Rochabrun, Tim Hepher; Editing by Kevin Liffey)

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