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Outside investors to control US Airways
Tuesday June 28, 8:53 am ET
WASHINGTON (Reuters) - Outside investors will control 49 percent of the airline that will result from the planned merger of bankrupt US Airways (OTC BB:UAIRQ.OB - News) with America West Airlines (AWA - News), according to a regulatory filing on Tuesday.
The ownership by outside investors, including several hedge funds, is larger than was announced when the merger deal was first struck last month, and reflects $149 million in new equity from Boston-based Wellington Management Co. LLP.
America West will hold 39 percent of the new entity, down from a previously announced 45 percent, while US Airways shareholders will own 12 percent, down from 14 percent, according to the proxy statement with the U.S. Securities and Exchange Commission on the proposed merger.
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Tuesday June 28, 8:53 am ET
WASHINGTON (Reuters) - Outside investors will control 49 percent of the airline that will result from the planned merger of bankrupt US Airways (OTC BB:UAIRQ.OB - News) with America West Airlines (AWA - News), according to a regulatory filing on Tuesday.
The ownership by outside investors, including several hedge funds, is larger than was announced when the merger deal was first struck last month, and reflects $149 million in new equity from Boston-based Wellington Management Co. LLP.
America West will hold 39 percent of the new entity, down from a previously announced 45 percent, while US Airways shareholders will own 12 percent, down from 14 percent, according to the proxy statement with the U.S. Securities and Exchange Commission on the proposed merger.
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