Latham and Weil among US firms checking in for $11bn US airline mega-merger
Latham & Watkins and Weil Gotshal & Manges are among a long list of US firms advising on the $11bn (£7.1bn) merger of US Airways and American Airlines parent company AMR, a deal set to create the world's largest airline. The boards of both companies have approved the merger with the majority share of the new company set to be owned by American Airlines' bankruptcy creditors with a 72% shareholding.
February 15, 2013 at 12:18 PM
2 minute read
Latham & Watkins and Weil Gotshal & Manges are among a long list of US firms advising on the $11bn (£7.1bn) merger of US Airways and American Airlines parent company AMR, a deal set to create the world's largest airline.
The boards of both companies have approved the merger with the majority share of the new company set to be owned by American Airlines' bankruptcy creditors with a 72% shareholding.
Doug Parker, chairman and CEO of US Airways, will serve as the combined firm's chief executive officer and a member of the board of directors.
A large team from Latham has advised US Airways led by Silicon Valley corporate partners Pete Kerman, Tony Richmond and Josh Dubofsky, New York bankruptcy partners DJ Baker and Paul Harner and Los Angeles bankruptcy partner Robert Klyman.
Meanwhile, a Weil team represented AMR led by New York partners Thomas Roberts (corporate) and Stephen Karotkin (bankruptcy), alongside Glenn West, Corey Chivers and Ted Waksman (corporate), Michael Kam (executive compensation) and Stuart Goldring (tax).
Jones Day is also serving as US antitrust co-counsel to AMR on the tie-up. Washington-based antitrust partners Joe Sims and Bruce McDonald are leading a team from the firm working on the matter.
Skadden is advising the unsecured creditors committee of AMR through a team led by corporate restructuring partners John Butler (Chicago) and Jay Goffman (New York).
Other US firms with related roles on the deal include Paul Hastings, Debevoise & Plimpton and K&L Gates for American Airlines, and O'Melveny & Myers, Cadwalader Wickersham & Taft and Dechert for US Airways.
The combined airline will offer more than 6,700 daily flights to 336 destinations in 56 countries and operate under the American Airlines name.
The deal, which requires approval from competition regulators and a US bankruptcy court before finalisation, would mark an upturn in fortunes for American Airlines, after AMR filed for bankruptcy in 2011.
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