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United & USair - fat lady on hold...

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United & USair - fat lady on hold...

Old 12th Jul 2001, 19:58
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Post United & USair - fat lady on hold...

Seems ol' Stevie the Wolfman didn't like Jimmy Goodwin's idea of backing out, and promptly bent him over a table...

Goodwin couldn't run a turd-tossing contest in a sewer....

Thursday July 12 10:38 AM ET

United Says to Continue U.S. Airways Pursuit
CHICAGO (Reuters) - United Airlines parent company UAL Corp. (NYSE:UAL - news) said on Thursday that it will continue to pursue its proposed $4.3 billion takeover of US Airways (NYSE:U - news).

United Airlines, the No. 2 U.S. air carrier, said it recently proposed to US Airways that their merger agreement be scrapped, but US Airways rejected this idea.

Both airlines said in statements that they had provided the U.S. Department of Justice with the 21 days' advance notice required to obtain a determination of the department's position on the proposed deal.

US Airways said the airlines are ready to address any questions the department may have regarding the proposed merger.

Last week US Airways told its employees that the deal was no longer an option and said its board would meet next week to review its options.
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Old 13th Jul 2001, 07:38
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It's all about the $50 million. If United back out they have to pay, If it is axed they don't.
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Old 13th Jul 2001, 19:05
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I think the 50 million is if they back out after august 1. If they back out before august1 it could be considerably more expensive, including class action shareholder lawsuits from both sides.

Cheers
Wino
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