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Old 08-25-2014 | 07:30 AM
  #7066  
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Firsttimeflyer
Stuck Mic
 
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Just to settle the dispute. ASA purchased Expressjet for $6.75 a share for a total of $133 million.

"In August 2010, SkyWest Inc. announced that it had entered into a definitive merger agreement with ExpressJet Holdings, whereby SkyWest Inc.'s wholly owned subsidiary, Atlantic Southeast Airlines, would purchase ExpressJet for $6.75 per share. Atlantic Southeast Airlines and ExpressJet became the world's largest regional airline on November 12, 2010 once the purchase was final. The self-proclaimed "Super Regional" airline is based in Atlanta."


"This isn't the first time SkyWest has looked at ExpressJet. Back in 2008, SkyWest made an offer for the airline for $3.50 a share. That didn't go through, and today, SkyWest is paying $6.75 a share. Shareholders of ExpressJet should be very happy to have pulled that in. [Update: There was a reverse stock split late in 2008, so the original offer in 2008 would have brought in about $180 million while this will bring in $133 million. I still say the ExpressJet shareholders should be happy about this considering the continued losses at ExpressJet.]"

One more article in case there is any confusion: SkyWest to acquire ExpressJet in continued US regional consolidation | CAPA - Centre for Aviation

"Subsidiary Atlantic Southeast Airlines will acquire all of the outstanding shares of common stock of ExpressJet Holdings, Inc. for USD6.75 per share in cash, representing a net purchase price of approximately USD133 million after accounting for the shares already owned by Atlantic Southeast."