Boeing Co on Saturday pulled out of a $4.2 billion deal to buy the commercial jets division of Brazil’s Embraer, unraveling years of work on a transformative move driven by expanding competition with Europe’s Airbus. “Over the past several months, we had productive but ultimately unsuccessful negotiations … We all aimed to resolve those by the initial termination date, but it didn’t happen,” Boeing senior vice-president Marc Allen, the president of the proposed Embraer partnership, said in a statement. Embraer had no immediate comment.
