Aeromexico Board Supports Delta's Offer Of Increased Stake

By Wallace Witkowski Markets MarketWatch Pulse

Grupo Aeromexico SAB de CV said its board would accept Delta Air Lines Inc.'s offer to acquire a 49% stake in the company. Back in November, Delta offered to increase its interest in the Mexican airline from its current 4.3% stake for 43.59 pesos a share, and on Feb. 13 boosted that offer to 53 pesos a share because of a decline in the peso. Since November, Aeromexico shares have risen 25% in local currency and last closed at 46.93 pesos a share. Aeromexico, in a statement, said its board "considers such price is both supported from a financial perspective and represents fair value." Delta shares declined 0.1% to $51.15 after hours.

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