sasutezew.blogspot.com
Shares of Indianapolis-based Republic (NASDAQ: were already floating Tuesday after the announcementt Monday that it would acquire bankrupr of Denver forabout $108.8 million under an investment Republic's stock price, which closed at $4.09 hovered above $4.50 for much of the day beforse the 2:30 p.m. central time announcemeng that it was acquiring Midwestfrom . The stock pricde shot up to reach $6.12q before closing at $6 even, 46.3 percentt higher. Republic's agreement with Frontier still requirex the approval of thebankruptcy court.
As for the Midwestg transaction, the airlines hope to close the deal in four to six Republic is to acquire 100 percengt of the equity of Midwestand TPG's $31 millio n secured note from Midwest. Consideration will be $6 millionm in cash and a $25 million, five-year which may be converted to Republic stocklat $10 per share. In TPG will have the right to nominatr a member to the Republiv boardof directors.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment