Sunday, April 11, 2010
Merger talks that came to light last week between UAL Corp.'s United Airlines and US Airways Group Inc. have become "very serious," said one person close to the matter. But they remain sensitive and it is just as likely the discussions will fall apart as result in a done deal, this person noted. Any transaction would be an all-stock merger, with United being the surviving entity, this person said. The share premium to be paid to US Airways shareholders hasn't been settled. Another person familiar with the talks said the two sides haven't yet agreed who would run the combination. A deal would create the No. 2 U.S. airline by traffic after Delta Air Lines Inc. If it comes to fruition, it would be announced within two or three weeks. A third person close to the situation suggested that Glenn Tilton, UAL's chief executive officer, recently restarted the talks, not his counterpart at US Airways, Doug Parker.
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