CHICAGO (KMOX)-Boeing has cancelled a $4.2 billion deal to by the commercial jet division of Brazil's Embraer, in what is shaping up to be a nasty breakup.
Boeing said in the statement Saturday, that Embraer had failed to meet certain conditions for the deal. Embraer released a statement accusing Boeing of manufacturing false claims to wrongfully terminate the agreement.
Embrear claims Boeing is unwilling to move forward, "because of its unwillingness to complete the transaction in light of its own financial condition and 737 MAX and other business and reputational problems."
The Brazilian company says it will pursue all remedies against Boeing for damages.