United to buy US Airways
Article Abstract:
UAL is planning to purchase US Airways for $4.3 billion. The acquisition will create the first airline with dominant airports throughout the US. The transaction involves UAL's payment of $60 per share in cash for US Airways, a premium of 131% over its $25.94 closing price on May 23, 2000. The merged company, which will keep the UAL name, is expected to solidify further UAL's presence on the East Coast.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Airline players face tests
Article Abstract:
UAL Corp's proposed $4.3-billion purchase US Airways Inc is expected to meet a number of obstacles. The biggest problem with the proposal is in convincing the regulatory authorities that combining UAL's United Airlines, the biggest carrier in the world, with US Airways will not create a monopoly in a number of routes. UAL is also facing a possible bidding war against AMR, parent of No. 2 carrier American Airlines, which has reportedly expressed an interest in US Airways.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Major investor rips Reynolds CEO in letter
Article Abstract:
Reynolds Metals Co CEO Jeremiah Sheehan is being blamed for rejecting Aluminum Company of America's (Alcoa) much higher offer in Mar 1999 and accepting Alcoa's latest offer of $4.35 billion in stock, worth $69.10 per share. Highfields Capital Management, Richmond, VA-based Reynolds' second- largest stockholder, sent a letter expressing displeasure over Sheehan's failure to disclose the 1.42 share offer, or $92.57 per share, offer from Alcoa, the biggest aluminum producer in the world.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1999
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