Boeing pulls out of $4.2 billion deal for Embraer’s commercial unit – Gulf Today

Boeing pulls out of $4.2 billion deal for Embraer’s commercial unit – Gulf Today

Boeing's statement confirmed a Reuters story earlier on Saturday and followed a story on Friday in which Reuters reported that the deal was close to collapse as the two parties neared a crucial midnight deadline.. The April 24 deadline for closing had been baked into the deal since early last year, but antitrust hiccups had forced the two companies to try to work out a new deadline.. Glass Lewis recommended that at Boeing's annual meeting on April 27 shareholders vote against Larry Kellner, the chairman of its board who previously oversaw the board's audit committee.. "We believe the audit committee failed to mitigate the risk posed by management's decisions and should be held accountable for its oversight," Glass Lewis said in its recommendation.. In a Boeing statement cited by the Journal, a spokesman said the planemaker is continuing to learn from the 737 Max crashes and is taking actions to rebuild trust..