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International Consolidated Airlines Group SA Announces Further Details On Its Subsidiary’s Offer To Acquire Vueling Airlines SA-DJ

Wednesday, 6 Feb 2013 12:41pm EST 

Dow Jones reported that International Consolidated Airlines Group SA announces that its wholly-owned subsidiary, Veloz Holdco SL has resolved not to seek that the consideration offered in its tender offer for the acquisition of Vueling Airlines SA (Vueling) of EUR 7 per share qualifies as an equitable price pursuant to article 9 of Royal Decree 1066/2007. The tender offer will hereinafter be governed by the rules applicable to voluntary offers and the valuation report prepared by the independent expert engaged by Veloz Holdco, including the application of the valuation standards and methods provided for in Section 10 of Royal Decree 1066/2007 for the purposes of article 11.d) of said Royal Decree will not be attached to the offer prospectus. Veloz Holdco has not adopted any decision regarding the waiver of the minimum acceptance condition to which the tender offer is subject should the acceptance levels that are necessary to exercise the squeeze-out right under Section 60 quarter of the Securities Market Act not be reached. Nevertheless, should Veloz Holdco resolve to waive the minimum acceptance condition, it does not contemplate the promotion of the de-listing of Vueling's shares in such scenario, if such de-listing would involve a price per share higher than the consideration resulting from its tender offer for the acquisition of Vueling. This announcement relates to an offer that is subject to prior authorization by the Spanish National Securities Market Commission.