Eagle757shark
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Delta, Northwest merger pact imminent - reports
Sun Apr 13, 2008 4:48pm EDT
PHILADELPHIA, April 13 (Reuters) - Delta Air Lines Inc (DAL.N: Quote, Profile, Research) and Northwest Airlines Corp (NWA.N: Quote, Profile, Research) aim to finalize a merger agreement in the next two days, media reports said on Sunday.
The Financial Times said a deal could be announced as early as Monday, while The Wall Street Journal said the agreement could be unveiled on Tuesday.
The airlines, which have seen deal talks collapse before, could push ahead with the agreement without the support of Delta's 6,000 pilots, according to the story in the Wall Street Journal's electronic edition.
The merger would create the world's largest airline, but the talks previously fizzled out in March when the pilots' unions on both sides failed to agree on how seniority would apply for their roughly 12,000 members in a combined carrier.
Delta and Northwest could not be immediately reached for comment. (Reporting by Jessica Hall, editing by Leslie Gevirtz) (For more M&A news and our DealZone blog, go to here)
Sun Apr 13, 2008 4:48pm EDT
PHILADELPHIA, April 13 (Reuters) - Delta Air Lines Inc (DAL.N: Quote, Profile, Research) and Northwest Airlines Corp (NWA.N: Quote, Profile, Research) aim to finalize a merger agreement in the next two days, media reports said on Sunday.
The Financial Times said a deal could be announced as early as Monday, while The Wall Street Journal said the agreement could be unveiled on Tuesday.
The airlines, which have seen deal talks collapse before, could push ahead with the agreement without the support of Delta's 6,000 pilots, according to the story in the Wall Street Journal's electronic edition.
The merger would create the world's largest airline, but the talks previously fizzled out in March when the pilots' unions on both sides failed to agree on how seniority would apply for their roughly 12,000 members in a combined carrier.
Delta and Northwest could not be immediately reached for comment. (Reporting by Jessica Hall, editing by Leslie Gevirtz) (For more M&A news and our DealZone blog, go to here)
