Boeing-Embraer Deal On Knife-Edge As Markets Tumble
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PARIS/SAO PAULO/SEATTLE (Reuters) - Brazil has upheld proposals by Boeing Co (BA.N) to buy the jetmaking arm of Embraer (EMBR3.SA), but plunging markets have raised urgent questions over the fate of the $4.2 billion deal as aviation reels from the coronavirus crisis.
Brazil's anti-trust watchdog dismissed prosecutors' objections to the politically sensitive deal on Wednesday.
A slump in Embraer shares and cash concerns at Boeing driven by the impact of the coronavirus on air travel dealt a blow to the deal's fragile economics, however, compounding uncertainty caused by delays in winning European Union regulatory approval.
Shares in the world's third-largest planemaker fell 14% on Wednesday, giving it a market value of about $1.3 billion after...
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