United Stockholders Approve Merger With Continental
September 17, 2010 1:34 PM
UAL Corporation, the parent company whose primary subsidiary is United Airlines (NASDAQ: UAUA), announced today that its stockholders approved the merger of a wholly owned subsidiary of UAL with and into Continental Airlines (NYSE: CAL), clearing the way for the merger to close by an expected date of Oct. 1.
More than 98 percent of the votes cast and 84 percent of the shares outstanding were voted by UAL stockholders in favor of the transaction. More than 98 percent of the votes cast and 75 percent of the shares outstanding were voted by Continental stockholders in favor of the transaction.
United and Continental announced an all-stock merger of equals on May 3, 2010. The companies have received clearance on the airlines' proposed merger from the United States Department of Justice and the European Commission.
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