Huge aircraft M&A talk
Boeing has talked to Brazil's Embraer about a potential takeover, according to a report in the WSJ.
The transaction would be a huge tie-up in the aerospace industry.
The story suggests a bid at a "a relatively large premium" to the $16.90 per share Embraer was trading at on Thursday before the news hit.
The Brazilian government has veto power of the transaction and the talks are on hold as officials await word.
The company is a huge source of pride in Brazilian industry and my guess is that it's highly unlikely it will be approved at any price. Shares are trading at $25.25 on the news.
Even if it's blocked, it shows there is global interest for Brazilian assets, which is good news for the Brazilian real, which is still down nearly 50% from 2014 levels.
