Chile LAN Receives SEC Approval To Launch Public Offer For TAM Shares

Date : 05/09/2012 @ 8:31PM
Source : Dow Jones News
Stock : Latam Airlines Grp. S.A. (LFL)
Quote : 12.74  -0.22 (-1.70%) @ 4:02PM

Chile LAN Receives SEC Approval To Launch Public Offer For TAM Shares

LATAM Airlines Group S.A. (NYSE:LFL)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more LATAM Airlines Group S.A. Charts.

Chilean flagship carrier LAN Airlines SA (LFL, LAN.SN) received the U.S. Securities and Exchange Commission's approval to launch a public exchange offer for Brazil's airline TAM SA's (TAM, TAMM4.BR) shares, LAN said in a filing with the Chilean regulator SVS late Wednesday.

The share-exchange offer is the final step to conclude the merger between TAM and LAN after nearly two years since both airlines announced their merger plans.

LAN expects to launch the public offer Thursday, said a person familiar with the company. The merger will be concluded 30 days after the share-exchange offer is launched, the person added.

The merger between LAN and TAM will create the largest airline in Latin America and one of the ten biggest in the world in terms of revenue.

Earlier this week, LAN received the Brazilian regulator CVM's approval to launch the share-exchange offer and was waiting for the SEC's approval.

-By Graciela Ibanez, Dow Jones Newswires; +56-2-715 8929; graciela.ibanez@dowjones.com




Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.