Continental, United In Major Airline Merger
May 3, 2010
The $3 billion dollar deal was confirmed after weeks of speculation about the possibility of a merge of the two major airlines, and stock shot up as is was announced.
Shareholders for United will be taking 55% of the combined stock between the two companies, while the other 45% will go to Continental shareholders.
Both companies spoke with enthusiasm of the deal, which will give a combined gross revenue of $29 billion.