Northwest, Delta Complete Merger
Source: http://feeds.feedburner.com/~r/StocksOptionsBlog/~3/436527115/Posted on Thursday, October 30th, 2008 | In Stocks to Watch
Thursday October 30, 2008
Navivest
Delta Air Lines, Inc. (DAL) and Northwest Airlines, Inc. (NWA) completed their merger yesterday, after they got the go ahead from the justice department. The news that both companies were in merger talks first leaked on February 11, 2008.
Under the all-stock $2.6 billion dollar deal, Northwest Airlines (NWA) is now a wholly owned subsidiary of Delta. The merger creates the world’s largest airline.
Northwest Airlines (NWA) stockholders will receive 1.25 Delta (DAL) shares for each Northwest Airlines (NWA) share they own and based on Delta’s (DAL) closing stock price on Oct. 29, 2008, this exchange ratio works out to $9.99 for each Northwest Airlines (NWA) common share.
Tags: Northwest Airlines Delta Airlines Merger
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