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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.
News For LFL;TAM From The Last 14 Days
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December 19, 2014
10:17 EDTLFLOn The Fly: Analyst Downgrade Summary
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06:57 EDTLFLLATAM Airlines downgraded to Neutral from Outperform at Credit Suisse
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December 9, 2014
10:23 EDTLFLOn The Fly: Analyst Downgrade Summary
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07:59 EDTLFLLATAM Airlines downgraded to Underperform from Neutral at BofA/Merrill
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