LAN and TAM share prices increase over USD4.1bn acquisition speculation
LAN Airlines and TAM share prices gained on speculation Chile’s antitrust tribunal will approve the Santiago-based company’s USD4.1 billion takeover of its Brazilian rival (Bloomberg, 05-Jul-2011). LAN advanced 2.2% in Santiago trading to 13,904 pesos, the highest price since 28-Jan-2011. TAM increased 4.6% to 36.46 reais in Sao Paulo, the largest increase since 12-Jan-2011. The tribunal, known as TDLC, is studying the merger proposal at the request of a consumer defense association.