Delta launches cash tender offer to acquire additional shares in Aeromexico Group

Delta Air Lines launched (13-Feb-2017) a cash tender offer through the Mexican Stock Exchange to acquire up to an additional 32% of the outstanding capital stock of Aeromexico Group for MXN53.00 (USD2.61) per share, subject to approval. Delta currently owns approximately 4.2% of Aeromexico's outstanding shares and holds options to acquire an additional 12.8%. The share purchases could increase Delta's ownership in Aeromexico's parent to 49%. Delta CEO Ed Bastian stated: "The tender offer and investment will further strengthen the relationship that will be established when our joint cooperation agreement is implemented in the second quarter." [more - original PR - Delta] [more - original PR - Aeromexico]