LAN Launches Share Swap To Take Over TAM

Discussion in 'LAN | LANPASS' started by Rejuvenated, May 10, 2012.  |  Print Topic

  1. Rejuvenated
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    Rejuvenated Gold Member

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    Chile's LAN Airlines said it had launched a share swap offer in the final stage of its takeover of Brazil’s TAM to create LATAM Airlines Group, the largest carrier in Latin America and one of the world's biggest airlines.
    http://news.airwise.com/story/view/1336652099.html
     
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  2. NYCAdventurer

    NYCAdventurer Gold Member

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    Hopefully this will make a stronger One World alliance!
     
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  3. progapanda

    progapanda Silver Member

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    Now that GOL is out of the picture, I can't wait to redeem my AA miles on a one-stop to Florianopolis! *fingers crossed*
     
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  4. jbcarioca
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    jbcarioca Gold Member

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    Just wait until there is a nonstop FLN-USA (I'd bet on MIA). Sometime in the next couple of years that might happen, although POA will probably begin well before FLN does.
     
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  5. Gaucho
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    Gaucho Gold Member

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    So... who is set to become the CEO of the new carrier..???? Will it be a LAN, TAM manager or an outsider...?
     
  6. Bay Pisco Shark
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    Bay Pisco Shark Gold Member

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    The materials are 376 pages, plus an equivalent amount in various exhibits, all in a document called "Offer to Exchange each Common Share, Preferred Share and American Depository Share of TAM S.A. for 0.90 of a Common Share of LAN AIRLINES, S.A.

    My fragile little mind doesn't have the time nor capacity to read same.
     
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  7. Bay Pisco Shark
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    Bay Pisco Shark Gold Member

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    UPDATE 2-Chile's LAN Airlines completes takeover of rival TAM

    12:16 pm ET 06/22/2012 - Reuters
    * LAN says wins 95.9 pct of support for share swap
    * Combination creates world's No. 2 airline by market value
    By Alberto Alerigi and Antonio De la Jara
    SAO PAULO, June 22 (Reuters) - Chile's LAN Airlines completed a takeover of Brazilian rival TAM on Friday, creating the world's second-largest airline by market value in a deal that executives expect to yield up to $700 million in costs savings within four years.
     

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