Vinson Reps Southwest In $1.4B AirTran Buy

Law360, New York (September 27, 2010, 11:15 AM EDT) -- Southwest Airlines Co. announced plans Monday to purchase discount airline rival AirTran Holdings Inc. for an estimated $1.4 billion in cash and stock, aiming to expand its regional service in the U.S. and access to vacation markets in Mexico and the Caribbean.

Under the agreement, Southwest will pay $7.69 per share of AirTran stock, a 69 percent premium above the closing price on Friday. Shareholders will receive $3.75 in cash and 0.321 percent of a share of Southwest for each share of AirTran, the companies said....
To view the full article, register now.