Ad-Hoc Committee Representing American Airlines Bondholders Issues Statement Regarding American Airlines And US Airways Merger
NEW YORK, Feb. 14, 2013 /PRNewswire/ -- The Ad-Hoc Committee representing bondholders of AMR Corporation (OTCQB: AAMRQ), the parent company of American Airlines, Inc., today issued the following statement regarding the announced merger of American Airlines and US Airways Group, Inc. (NYSE: LCC):
We are pleased that American Airlines and US Airways have agreed to combine in a transaction that will result in significant value for stakeholders of both companies, including bondholders of AMR. This merger is the best outcome for AMR's restructuring, providing AMR stakeholders with enhanced recoveries. We are pleased that the Ad Hoc Committee, along with certain other large bondholders, have been able to reach an agreement with AMR regarding a fair and appropriate allocation of value among AMR stakeholders and believe that such agreement will avoid significant litigation that might otherwise jeopardize consummation of the merger. We acknowledge the efforts of Tom Horton and the American Airlines Board of Directors and management team, as well as the work of Doug Parker and the US Airways Board and management team, who have worked extremely hard for more than a year to make this transaction possible and AMR's restructuring a success. Gerard Uzzi and Tom Janson of Milbank, Tweed, Hadley & McCloy LLP and Eric Siegert of Houlihan Lokey represent the Ad Hoc Committee. Seabury Group and Amy Caton of Kramer Levin Naftalis & Frankel LLP represent Bank of New York Mellon and Law Debenture as indenture trustees in connection with the negotiations.
SOURCE The Ad-Hoc Committee
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV