Deals
US Airways Shareholders Approve $11 Billion Merger With AMR
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US Airways Group Inc. shareholders moved the carrier a step closer to an $11 billion merger with AMR Corp.’s American Airlines by approving the combination in a vote today.
The all-stock tie-up, which will create the world’s largest airline, was backed by more than 99 percent of shares voted at the company’s annual meeting in New York, US Airways said in a statement. Its stockholders will own 28 percent of the combined carrier, with the rest going to creditors in AMR’s bankruptcy.