Go Back  PPRuNe Forums > Flight Deck Forums > Rumours & News
Reload this Page >

United & USair - fat lady on hold...

Rumours & News Reporting Points that may affect our jobs or lives as professional pilots. Also, items that may be of interest to professional pilots.

United & USair - fat lady on hold...

Old 12th Jul 2001, 19:58
  #1 (permalink)  
Thread Starter
Join Date: May 1999
Location: USA
Posts: 194
Likes: 0
Received 0 Likes on 0 Posts
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.
Oilhead is offline  
Old 13th Jul 2001, 07:38
  #2 (permalink)  
Join Date: May 2000
Location: God's country
Posts: 48
Likes: 0
Received 0 Likes on 0 Posts

It's all about the $50 million. If United back out they have to pay, If it is axed they don't.
catch 22 is offline  
Old 13th Jul 2001, 19:05
  #3 (permalink)  
Union Goon
Join Date: Feb 2000
Location: New Jersey, USA
Posts: 1,097
Likes: 0
Received 0 Likes on 0 Posts

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.

Wino is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.