RENO, Nev., Dec. 9 /PRNewswire/ -- Reno Air, Inc. (Nasdaq: RENO; PCX: RNO)
and American Airlines, Inc., a subsidiary of AMR Corp. (NYSE: AMR) said today
that the waiting period prescribed under the federal Hart-Scott-Rodino
Anti-trust Improvements Act of 1976, regarding the planned acquisition by
American of Reno Air, expired at 11:59 p.m. on Tuesday, Dec. 8, 1998.
The conditions to the tender offer by American's wholly owned subsidiary,
Bonanza Acquisitions, Inc., to acquire Reno Air requiring the expiration or
termination of such waiting period has now been satisfied. The tender offer
remains subject to other conditions.
The planned acquisition of Reno Air, which was announced by the two
carriers on Nov. 19, 1998, will enhance American's overall network and
strengthen its presence in the Western United States.
The merger agreement provides for a cash tender offer to acquire all of
the outstanding common shares of Reno Air at $7.75 per share. In addition,
American will also tender for any and all of Reno's outstanding 9 percent
Series A Cumulative Convertible Exchangeable Preferred Stock. The board of
directors of Reno Air has unanimously recommended that stockholders tender
their shares pursuant to the offer.
SOURCE Reno Air, Inc.
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Related links:
http://www.renoair.com
Company News On-Call:
http://www.prnewswire.com/comp/740075.html or fax,
800-758-5804, ext. 740075
CONTACT:
Joanne Smith, 702-954-5023, or Nancy Raymond,
702-954-5000 , ext., 4327, both of Reno Air
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