Why Embraer Is Up Big This Week
Shares of Brazilian aerospace manufacturer Embraer (NYSE: ERJ) were up 14% for the week as of Thursday afternoon on talk the company was near a deal to merge its air taxi business with a special purpose acquisition company (SPAC).
Investors have been waiting for Embraer's next move for more than a year now following an April 2020 decision by Boeing to walk away from a $4 billion deal to take control of Embraer's commercial operations. Embraer's commercial aerospace operation has some good products, but the company's diminutive size has made competing against titans like Boeing and Airbus difficult, and the proposed deal looked like a good option to solve a lot of what ailed Embraer.
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Source Fool.com
