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Stock Market & Financial Investment News

News Breaks
June 12, 2012
10:12 EDTLFL, TAMLan Airlines, TAM combination reaches 94.4% approval, exchange offer extended
LAN Airlines (LFL) and TAM S.A. (TAM) announce at the scheduled expiration time of the offer of Holdco II S.A., a newly formed entity to be merged into LAN, to exchange TAM shares for LAN BDRs in Brazil and LAN ADRs in the United States, at a ratio of 0.9 shares of LAN for each TAM share, that the number of TAM shares tendered plus the TAM shares to be contributed by the controlling shareholders of TAM represented 94.4% of the outstanding TAM shares. The number of tendered shares was not sufficient to satisfy the 95% squeeze-out condition set forth in the exchange offer documents. Unless this condition is satisfied, TAM will not be able to mandatorily redeem any TAM shares not acquired in the exchange offer or contributed by the controlling shareholders of TAM. Based on these results, LAN and Holdco II waived the squeeze-out condition and extended the exchange offer for 10 calendar days. The exchange offer will now expire at 5:00 P.M. Eastern Daylight Time on June 21, 2012, and the auction on BM&FBOVESPA S.A. Bolsa de Valores, Mercadorias e Futuros will occur at 9:00 A.M. Eastern Daylight Time on June 22, 2012.
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August 31, 2014
13:57 EDTLFLDeutsche Bank to hold a conference
Global Emerging Markets 1:1 Conference to be held in New York on September 3-5.

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