AirTran Investors Agree To $3.4B Southwest Deal

Law360, New York (March 23, 2011, 6:24 PM EDT) -- Shareholders of Dallas-based AirTran Holdings Inc. voted Wednesday to approve the $3.4 billion sale of AirTran Airways to a Southwest Airlines Co. subsidiary, a deal designed to give Southwest more clout in low-fare air travel.

The proposed merger received more than 98.6 percent of shareholder votes at a special meeting in Orlando, Fla., representing about 77 percent of outstanding shares. The deal, which remains subject to regulatory approval, is expected to close in the second quarter of 2011.

"We are grateful for our stockholders' strong vote...
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