Boeing, the world's largest aviation company, is eyeing a stake in Brazilian plane manufacture Embraer. If the acqusition were to go through it would help Boeing expand its reach into the increasingly contested small jet market.
US plane maker Boeing has announced it will take control of the commercial business unit of Brazil's Embraer. This will put the American aerospace giant in a position to compete in the market for smaller jets.
Shares in Brazil's Embraer have soared 20 percent after Boeing confirmed it is in talks to merge with its smaller rival. But the Brazilian government, which is a shareholder, is lukewarm about any possible takeover.
Having more than doubled in value over the last year, shares in Boeing are a standout in a strong market. Continued demand for new planes has created long backlogs which are expected to keep growth steady.
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