Mesa Air Makes Bid for Atlantic Coast Airlines
Mesa Air Group(MESA) offered to acquire rival Atlantic Coast Airlines(ACAI) in an all-stock deal.
Mesa offered to pay 0.9 Mesa shares for each share of ACA, giving the stock an $11.30 value, a 25% premium over its closing price Friday and a 35% premium over its average trading price since July 28. The deal would create a regional airline with about 300 airplanes operating in the U.S. Shares of ACA were up 52 cents, or 5.7%, at $9.54 in early trading Monday, while Mesa was halted at Friday's close of $12.54.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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