SEARCH

Entries in Takeover (3)

Wednesday
Apr042012

US Airways Touts Savings, Sales as It Pushes for Merger with American

Tim Boyle/Bloomberg via Getty Images(NEW YORK) -- US Airways appears to be pushing ahead with calls for a merger with American Airlines.

Citing people familiar with the matter, The Wall Street Journal reports US Airways has told some of the bankrupt carrier's creditors that combining both airlines would lead to over $1.5 billion in cost savings and added sales.

AMR Corporation, the parent company of American Airlines, filed for Chapter 11 bankruptcy protection last November. 

Last month, it was first reported that US Airways was in talks to takeover American.  According to Bloomberg, proposals for the merger, laid out by US Airways executives, received a positive reception from some of the carrier's creditors.

Copyright 2012 ABC News Radio

Friday
Mar232012

US Airways to Takeover American Airlines?

Tim Boyle/Bloomberg via Getty Images(NEW YORK) -- US Airways is reportedly in talks to takeover the now bankrupt parent company of American Airlines, AMR Corporation.

People familiar with the discussions told Bloomberg that proposals for the merger, laid out by US Airways executives, received a positive reception from some of the bankrupt carrier's creditors.

According to the sources, the goal is to combine both airlines before AMR exits Chapter 11.

Talks of the possible takeover come four months after AMR filed for bankruptcy protection.  After years of losses, the company filed for Chapter 11 on Nov. 29 "in order to achieve a cost and debt structure that is competitive in the airline industry."

Copyright 2012 ABC News Radio

Tuesday
Jun212011

Foster's Declines $10 Billion Takeover Deal by SABMiller

GREG WOOD/AFP/Getty Images(MELBOURNE, Australia) -- Australia's largest brewing company Tuesday turned down a takeover offer from SABMiller worth $10 billion.  Foster's, which has 50 percent market share in Australia, declined the offer, saying it diminished the value of the company.

"The board of Foster's believes that the proposal significantly undervalues the company in the context of a change of control and, as such, it does not intend to take any further action in relation to it," Foster's Group said Tuesday in a statement.

Foster's first attracted attention about potential takeovers after splitting its wine and beer operations.  

Foster's stocks increased 13 percent Tuesday to $5.11 upon news of the declined offer.

Copyright 2011 ABC News







ABC News Radio