LAN says signs non-binding deal with TAM to merge

SANTIAGO Fri Aug 13, 2010 4:10pm EDT

SANTIAGO Aug 13 (Reuters) - Chile's flagship airline LAN LAN.SN said on Friday it has signed a non-binding agreement with Brazil's TAM TAMM4.SA(TAM.N) to merge both companies.

Shares in LAN surged over 7.7 percent after an earlier report on the possible merger.

(Reporting by Brad Haynes; Editing by Gunna Dickson)

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