Judge BLOCKS MESA from replacing Board

[General Lee]

Reuters
Judge blocks Mesa Air consent solicitation effort
Thursday December 18, 7:45 pm ET


NEW YORK, Dec 18 (Reuters) - A federal judge on Thursday issued a preliminary injunction blocking Mesa Air Group Inc.'s (NasdaqNM:MESA - News) effort to replace Atlantic Coast Airlines' (NasdaqNM:ACAI - News) board as part of its unsolicited takeover attempt of the regional airline.
The injunction was handed down by U.S. District Judge Rosemary Collyer, who determined Atlantic Air had raised enough antitrust concerns pertaining to Mesa's $495 million takeover bid that its lawsuit against the Phoenix-based airline should be allowed to continue, court documents showed.

Mesa Air filed a consent solicitation earlier this month seeking shareholder support to replace Atlantic Coast's board with its own nominees.



Bye Bye--General Lee

 

[Patriot328]

HEY JOHNNY FLOORSTAIN

F
U
C
K
Y
O
U



sorry I just had to get that out... good to hear we have a stay of execution for a while.

 

[Rottweiller]

WAY TO GO!!

Hey JO don't you get it? No one wants anything to do with you so take youself and your bottom feeders back to PHX and stay there!

 

[Cappy]

I was trying to think of a professional and thoughtful way to tell the readers that I did not like JO nor his plan.

Looks like Patriot328 says it best. Please refer to him in the future for my feelings on the whole Mesa matter.

Thank You

Mike

 

[328dude]

Patriot: ROFLMAO


Congrats to all you ACA boys and girls. Glad someone else is starting to see the light.

A small victory in regards to what lies ahead, but nontheless, an important one.

Congrats again.

 

[Rottweiller]

UPDATE

UPDATE 1-Judge blocks Mesa Air consent solicitation effort
Thu December 18, 2003 08:18 PM ET

NEW YORK, Dec 18 (Reuters) - A U.S. District Court judge on Thursday issued a preliminary injunction blocking Mesa Air Group Inc.'s (MESA.O: Quote, Profile, Research) effort to replace Atlantic Coast Airlines' (ACAI.O: Quote, Profile, Research) board as part of its unsolicited takeover attempt of the regional airline.
Meanwhile, Atlantic Coast said the U.S. Justice Department has opened an antitrust probe into Mesa's $495 million takeover offer, joining a similar probe by District of Columbia antitrust officials.

A Mesa spokeswoman was not immediately available to comment.

But the two events represent a setback in the attempt by Phoenix-based Mesa to acquire Atlantic Coast, of Dulles, Virginia, and form a more powerful regional airline.

The injunction was handed down by U.S. District Court Judge Rosemary Collyer, who determined Atlantic Air had raised enough antitrust concerns pertaining to Mesa's takeover bid that its lawsuit against Mesa should be allowed to continue, court documents showed.

Collyer, a judge in the U.S. District Court for the District of Columbia, said a deal struck last month between Mesa and UAL Corp.(UALAQ.OB: Quote, Profile, Research) , the parent company of United Airlines, was of particular concern.

Specifically, Collyer said the deal, which would permit Mesa to provide regional service for United Airlines should it acquire Atlantic Coast, might violate the Sherman Act because it potentially restrains Atlantic Air's ability to launch a low-cost competitor to United.

Earlier this month, Mesa Air filed a consent solicitation seeking shareholder support to replace Atlantic Coast's board with its own nominees.

Mesa Air Chairman and Chief Executive Jonathan Ornstein said on Thursday, speaking at the Wings Club before the decision was handed down, that should his airline lose its motion to dismiss the preliminary injunction request, it would have to evaluate whether to appeal or not.

The airline has promised to launch a hostile tender offer to acquire Atlantic Coast, but to date has not done so.

Mesa has offered to acquire Atlantic Coast for 0.9 of a share of its stock, valuing the airline at $10.91, based on closing prices on Thursday. Atlantic Coast has repeatedly rebuffed that offer.

On Thursday, Atlantic Coast's stock closed at $10.45, up 5 cents on Nasdaq. Mesa's stock ended at $12.12, up 16 cents, on Nasdaq.

 

[Beechnut]

RIGHT ON! F You MESA PUKES!!

S.

 

[inthepool]

WAY TO GO ACA! Tell Johnny O this is an emergency, he f*cked with the wrong people, and he should grab his ankles and kiss his a$$ goodbye!

 

[js31pilot]

I KNOW this can't be his endgame. He is a ......well I don't have to list all the adjectives........just look above and do a search. But one thing he is not though is stupid....he is the kind of guy who says look at this hand while he is stealing your grandmothers pocketbook with the other.........


There has GOT to be somthing else going on here......


BTW.......GOOD JOB ACA....keep it up

 

[treetopflyer]

yes, maybe his grandmother.

but he tried that trick on kerry skeen, my friend and ended up with a pistol stuck in his belly and some instructions to back the f-up.

later JO you pri-k