Delta has launched a cash tender offer to acquire up to an
additional 32 percent of Grupo Aeromexico's shares through the Mexican Stock
Exchange for 53 pesos (US$2.61) per share. Delta currently owns 4.2 percent of
Aeromexico's shares with options to acquire an additional 12.8 percent, so the
new offer, which requires Aeromexico shareholder and Mexican antitrust
approvals, gives Delta the option to acquire up to 49 percent of outstanding
shares. The U.S. Department of Transportation in December gave
final approval for a joint cooperation agreement between Delta and
Aeromexico, and the carriers currently are working to implement conditions
required of that approval, including divesting transborder slots in New
York and Mexico City.