In 2006, the U.S. airline U.S. Airways launched a bid for Delta Air Lines by 8400 million dollars (about 6.258 million euros) between liquid and actions in an operation to be carried out after the departure of Delta bankruptcy and leading to one of the largest airlines in the world.
U.S. Airways said that the union of the two companies generate annual synergies of approximately 1,650 million dollars (1290.5 billion), and that consumers would have the advantages of a company “large, offers a complete service.” Once Delta leaves bankruptcy protection, creditors would receive 4,000 million dollars (3,128.5 million euros) in cash and 78.5 million shares of the capital of U.S. Airways.
The CEO of Delta, Ernst Gerald Grinstein, said that the proposed U.S. Airways would of course be analyzed, “but added that his company plans” have always been out of bankruptcy in the first half of 2007 as an airline to maintain strong solo.
“The Bankruptcy Court has guaranteed Delta the exclusive right to create the plan until February 15, 2007. Delta said will continue to move resolutely towards that goal,” Grinstein added.
The company resulting from the fusion operator and denied the name of Delta, U.S. Airways reported. If the operation had been closed, the new giant of the aviation fly to over 350 destinations on five continents and become the airline with more flights and the second in transatlantic traffic in the area of the Caribbean. U.S. Airways is integrated into the alliance Star Alliance, while Delta is owned by Sky Team.
The release of U.S. Airways did not clarify whether the new airline would have its headquarters at the home of this company, in Tempe (Arizona) or the Delta in Atlanta (Georgia).
In early 2007, U.S. Airways raises offer for Delta to 10,200 million dollars compared to 8,400 million dollars earlier. U.S. Airways Group Inc. announced that earlier this year to increase its offer for Delta Air Lines Inc to 10,200 million dollars compared to 8400 million offered previously.
Citigroup, the advisor to U.S. Airways, I believe that Ernst this new proposal will provide unsecured creditors of Delta y15.400 between 12,700 million dollars in value, representing a significant premium of between 9400 and 12,000 million dollars of the plan Delta.
The operation would be creative in profits per share of U.S. Airways in the first year after completion of the merger.
In January 2007, the U.S. airline U.S. Airways Group withdrew its offer to buy Delta Airlines after the official committee of Delta’s creditors will not report to support his proposal.
The company announced that U.S. Airways withdrew its offer of USD10, 200 million to acquire rival Delta Airlines, not having received a positive response from the creditors’ committee of the airline.
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