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Boeing seeking takeover of Brazil’s Embraer

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As reported by the Wall Street Journal, Boeing has held talks about a takeover of Brazil’s  Embraer, the third world’s passenger plane maker. Such a a move could further reshape the global aerospace industry as Boeing’s  European rival Airbus prepares to take control of Bombardier’s C Series regional passenger jet.

Boeing and Embraer confirmed on Thursday (Dec.21) that they were in discussions on a deal. The terms are still under discussion,  as it will be necessary the Brazilian governments’s  previous approval as a ‘golden share’ detainer.

Embraer American depositary receipts surged 25 per cent on the report, and the Brazilian shares leapt 40 per cent.