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Investors association asks for tender offer in Boeing-Embraer deal

Reuters

RIO DE JANEIRO, Dec 20 () - Brazilian investors' association Abradin has filed a motion with a São Paulo court questioning the legality of a tie-up between U.S. planemaker Boeing Co and Embraer SA.

The motion asks the court to determine whether Embraer shareholders should be eligible for a public tender offer. Abradin could bring legal action against the deal if a public tender is not launched.

"We understand that this is an illegal operation," Abradin's president, Aurelio Valporto, told .

Embraer and Boeing finalized a deal this week in which Embraer will sell 80 percent of its commercial jet unit, netting $3 billion in proceeds.

Both companies did not immediately comment on the matter.

Writing by Gram Slattery


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