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Sunday, 08 August 2010 17:25
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SkyWest reaches agreement to acquire ExpressJet for $133 million

SkyWest CRJ-900. Photo: Courtesy, Bombardier.

SkyWest Inc. reached an agreement to acquire ExpressJet Holdings for $6.75 per share in cash or approximately $133 million and plans to merge the Houston-based regional with its Atlanta-based subsidiary Atlantic Southeast Airlines.

"The definitive merger agreement has been unanimously approved by the SkyWest and ExpressJet boards of directors," SkyWest said in a statement. It still must be approved by the US Dept. of Justice and ExpressJet stockholders.Separately, SkyWest reported a 28.6% decline in second quarter net income.

READ MORE: ATWOnline

 
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