Boeing has pulled out of a $4.2 billion deal to buy Embraer’s commercial jets division.<br />The move sparked a furious response from its jilted partner, and also left plans for a U.S.-Brazil alliance in ashes.<br />The deal fell apart hours after a midnight deadline expired with no agreement on how to implement a deal first aired in 2018.<br />Boeing accuses Embraer of failing to meet conditions for closing the transaction.<br />However, Embraer says Boeing had torpedoed it because of problems from the coronavirus crisis and the grounding of its 737 MAX.<br />Embraer believes strongly that Boeing has wrongfully terminated the agreement. Embraer company statement<br />According to Reuters, both companies are now bracing for months of argument over the breakup.
