Delta Sweetens Aeromexico Stake Offer as Trump Bruises Peso
- Airlines cite currency movements as a reason for higher price
- U.S. carrier would control 49% of Mexican partner after tender
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Delta Air Lines Inc. boosted its offer for a stake in Grupo Aeromexico SAB to 53 pesos a share, raising the price after President Donald Trump’s election weakened the Mexican currency.
The increase from the previous level of 43.59 pesos is due to “interim exchange rate movements and other factors,” the two airlines said in a statement Monday. Delta started a cash tender offer through the Mexican stock exchange at the higher price as it followed through on previously announced plans to buy an additional 32 percent of Aeromexico.