AA to change NASDAQ listing after merger

Discussion in 'American Airlines | AAdvantage' started by MSYgirl, Nov 16, 2013.  |  Print Topic

  1. MSYgirl

    MSYgirl Gold Member

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    [article]

    American Airlines says it will list its shares on the Nasdaq Stock Market under the ticker symbol "AAL" after completing a merger with US Airways and forming the world's biggest airline.

    American's parent, AMR Corp., had been listed on the New York Stock Exchange as "AMR" until the shares were removed shortly after the company filed for bankruptcy protection in November 2011. They are currently available only over the counter under the symbol "AAMRQ."

    Tom Horton, the CEO of AMR, said the Nasdaq "offers a most advanced trading platform driven by innovation and efficiency."

    Shares of AMR and US Airways Group Inc. will be canceled and exchanged for stock in the new American Airlines Group Inc., which will be based in AMR's home in Fort Worth, Texas. AMR creditors, bondholders and shareholders will get 72 percent of the new company, and US Airways shareholders will get the other 28 percent. At Friday's stock prices, the new company would have a market value of more than $16.6 billion.
     
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  2. satman40

    satman40 Gold Member

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    Let's hope they stay off the pink sheet, and don't get regulated to death.
     
  3. BStrauss3

    BStrauss3 Silver Member

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    The temporary preferred stock will also be listed on NASDAQ... when that gets converted to common shares I wonder if the new AA will move back...
     
  4. davef139

    davef139 Gold Member

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    I doubt they will make a full move to a new exchange without being forced. Either way I think existing AA shareholders are still getting screwed.
     

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