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Thread: China Eastern Airlines confirms detailed merger plan with Shanghai Airlines
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[quote=JIMMYB,370739]China Eastern Airlines announced on late Sunday that it will merge Shanghai Airlines through “shares swap’. Shanghai Airlines will swap one of its A shares for 1.3 shares of China Eastern Airlines after China Estern Airlines’ share holders give a 25% risk premiem to Shanghai Airlines. The two airlines will resume stock trading in Shanghai on Monday. Their shares have been suspended from trading since June 8 while waiting for the merger talks. After the merger, Shanghai Airlines will become a wholly-owned subsidiary of China Eastern Airlines and retain its brand and independent operation. China Eastern Airlines will have about 50% market share in Shanghai after the merger. The merger will strengthen China Eastern Airlines’ competitive strength over its two major rivals Air China and China Southern Airlines. [/quote]
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