Boeing Co on Saturday said it had canceled a $4.2 billion deal to buy the commercial jets division of Embraer , unraveling years of work on what the Brazilian planemaker expected to be a transformative move. Boeing’s statement confirmed a Reuters story earlier on Saturday and followed a story on Friday in which Reuters reported that the deal was close to collapse as the two parties neared a crucial midnight deadline. Boeing said in the statement that Embraer had failed to meet certain conditions for the deal to go through, although it did not specify which ones.
