CAL/UAL Merger Done Next Week

[Ex737Driver]

Can't find the link yet but basically a stock-for-stock deal with Tiltion as Chairman of the board and Smiseck as CEO.

 

[Ex737Driver]

Here we go.............

http://www.marketwatch.com/story/ua...erger-report-2010-04-22-1736400?siteid=yhoof2



SAN FRANCISCO (MarketWatch) -- UAL Corp.'s (UAUA 21.91, +0.20, +0.92%) United Airlines and Continental Airlines Inc. (CAL 21.90, +0.47, +2.19%) are considering a no-premium stock-for-stock merger, creating an entity valued at more than $6 billion, Bloomberg reported late Thursday on its Web site. UAL Chief Executive Glenn Tilton will serve as chairman while Continental CEO Jeff Smisek would be named CEO, the news service said, citing people familiar with the discussions. Bloomberg said the terms have not been finalized yet. UAL had been holding talks with US Airways (LCC 6.47, -0.08, -1.22%) on a possible deal but the talks had broken down, US Airways said earlier Thursday

 

[Kharma Police]

Sorry for CAL to hear that Tilton is staying. That guy could f-up a one car funeral.

 

[densoo]

Nice find.

 

[Mr.B]

Sorry for CAL to hear that Tilton is staying. That guy could f-up a one car funeral.

Where you been? It was never about Tilton running an airline...its about the payday. At least Smegma or whatever his name is will run the combo.

 

[cybourg10]

No surprise here, Glenn gets his $50 million and an easy chairman job and Jeff gets to be the day to day manager. I was surprised that Chicago would be where the headquarters are, my bet was Houston with the United brand staying alive.

 

[mamba20]

Oh shiznit. . . .

 

[General Lee]

The CAL pilots have to approve this, and that means GO FOR A BIG PAY RAISE AND TIGHTEN SCOPE. Don't just go "for the Delta contract", go bigger, so the rest of us can go up too eventually down the road. Go for SWA pay or better. Good luck!

Bye Bye---General Lee

 

[Yuppyguppy]

hey general...feelin the pressure aren't you...better get some new commercials

 

[General Lee]

hey general...feelin the pressure aren't you...better get some new commercials

Pressure? No way. I just hope the CAL and UAL pilots don't squander this great opportunity. Hopefully they will get a JOINT contract first with a nice raise and protections, and then it will get interesting to watch the SLI. Where's the popcorn? Yup, where do you think you will end up?


Bye Bye--General Lee

 

[Pilotbob3]

Pressure? No way. I just hope the CAL and UAL pilots don't squander this great opportunity. Hopefully they will get a JOINT contract first with a nice raise and protections, and then it will get interesting to watch the SLI. Where's the popcorn? Yup, where do you think you will end up?


Bye Bye--General Lee

You mean kind of how the Delta pilots squandered the once in a career opportunity during the NW merger?

 

[General Lee]

You mean kind of how the Delta pilots squandered the once in a career opportunity during the NW merger?

Oh yeah, when oil hit $130 a barrel. Sure, we had lots of opportunity there, especially since people thought it was going to $150 a barrel.... I guess you forgot all about that. It is all about timing, and ours was not great. Hopefully CAL and UAL can put more of a squeeze on them. We did get a 17% raise over 4 years---during a recession (the start of it too), and that wasn't bad, but not great.


Bye Bye---General Lee

 

[Flying the Line]

Delta pilots are pu$$ys.

 

[General Lee]

Delta pilots are pu$$ys.

Well, DL pilots get some, while you get a hose.


Bye Bye---General Lee

 

[GuppyWN]

Wow... hard to imagine that Northwest and Continental will both be names we don't hear in the future.

Still odd to see a "delta" airbus fly by.

I'm with General. Go big or go home!

Gup

 

[Orphan Annie]

I have stock in both companies. Where do you suppose it will go? Up/down?

 

[bizicmo]

I think this is just for show to get USairways back to the table.

 

[mamba20]

So what exactly is a stock swap? I'm not much of a financial guy. Is there one company that is more controlling? is this an aquisition at all?

 

[d.fitz]

http://en.wikipedia.org/wiki/Stock_swap



A stock swap, also known as a share swap, is a business takeover or acquisition in which the acquiring company uses its own stock to pay for the acquired company. Each shareholder of the newly acquired company receives a certain number of shares of the acquiring company's stock for each share of stock they previously held in the acquired company.

 

[Homer Jay]

No surprise here, Glenn gets his $50 million and an easy chairman job and Jeff gets to be the day to day manager. I was surprised that Chicago would be where the headquarters are, my bet was Houston with the United brand staying alive.

Where did you see that the name would be United and be headquartered in Chicago?