Embraer says Boeing will pay $150 million for withdrawal from tie-up talks

Boeing will pay Embraer a gross amount of $150 million over its decision to walk away from talks for a commercial aviation tie-up in 2020, the Brazilian planemaker said on Monday. The deal marks the completion of a lengthy arbitration process that begun after the U.S. company aborted a $4.2 billion agreement to buy Embraer's commercial jet-making operations in the midst of the COVID-19 pandemic. Boeing at the time accused Embraer of failing to meet conditions for closing the transaction first aired in 2018, but Embraer said Boeing had torpedoed it because of wider financial problems, triggering the arbitration process.