US airlines Delta and Northwest agree to merge
Tuesday, April 15, 2008 Rival United States airlines Delta Air Lines and Northwest Airlines announced today that they have agreed to merge. The new airline, which will use the Delta name, will be the largest commercial airline in the world. Technically, Delta will be buying Northwest in a roughly US$3 billion deal. Northwest shareholders will receive 1.25 shares of Delta for each share of Northwest. Based on Monday’s closing prices on the New York Stock Exhange this represents a 17% premium for Northwest shareholders. Richard Anderson, the Delta chief executive…
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