Deals
Gol Falls Most in Seven Months After Lan-Tam Deal
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Gol Linhas Aereas Inteligentes SA, Brazil’s second-biggest airline by market share, fell the most in seven months after its larger rival Tam SA was taken over by Chile’s Lan Airlines SA.
Lan agreed to buy Tam with newly issued stock in a deal worth as much as $3.7 billion, with investors getting 0.9 Lan share for each Tam share held. Lan will have about 70 percent of the combined carrier, LATAM Airlines Group. Tam will be delisted as part of the deal.