IAG To Buy British Midland

by Monica Gerson, Benzinga Staff Writer

December 22, 2011 4:44 AM | 17 seconds read | Make a Comment

International Consolidated Airlines Group SA

ICAGY

reached an agreement to acquire British Midland Ltd from Deutsche Lufthansa AG

DLAKY

for GBP172.5 million in cash. The deal is likely to complete during Q1 2012. ICAGY shares closed at $11.13 yesterday, while DLAKY shares closed at $11.78 yesterday.

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IAG To Buy British Midland