Delta-Northwest Merger Receives Unconditional Clearance from the European Commission
Delta Air Lines (NYSE: DAL) and Northwest Airlines (NYSE: NWA) today received unconditional clearance from the European Commission on the airlines’ proposed merger. The Commission noted its investigation found the proposed transaction would not impede effective competition in Europe or the trans-Atlantic.
“Approval from the European Commission for the merger is another important step toward completing our pro-competitive merger with Northwest,” said Delta CEO Richard Anderson. “The Delta-Northwest merger will combine two complementary networks to offer customers greater access to destinations across the globe. We continue to work closely with the U.S. Department of Justice and remain confident that we will be able to finalize the merger by the end of the year.”
Delta in April announced that it is combining with Northwest in an all-stock transaction to create America’s premier global airline. The new company will be called Delta and will be headquartered in Atlanta. Combined, the company and its regional partners will provide customers access to more than 390 destinations in 67 countries. Together, Delta and Northwest will have one of the strongest balance sheets in the industry and be better positioned for long-term success through economic cycles. The merger is subject to the approval of Delta and Northwest stockholders and the U.S. Department of Justice, which are targeted for completion later this year.
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