AMR and American Airlines File for Chapter 11

Was heisst das jetzt für unsere AMR (AAMRQ) Aktien ? Werden die genau wie die US Airways Aktien 1:1 getauscht ???


FORT WORTH, Texas and TEMPE, Ariz., Nov. 27, 2013 /PRNewswire via COMTEX/ -- Today, the U.S. Bankruptcy Court for the Southern District of New York approved the settlement of the lawsuit reached with the U.S. Department of Justice and certain states relating to the merger of AMR Corporation and US Airways Group, Inc. The court also ruled that the merger may be consummated despite the pendency of a private antitrust lawsuit. As a result of the Court's rulings, AMR Corporation, the parent company of American Airlines, Inc., today filed with the U.S. Bankruptcy Court for the Southern District of New York a notice that the proposed effective date of the Plan of Reorganization will be Dec. 9, 2013.

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Consummation of AMR's Plan of Reorganization and the merger of US Airways Group, Inc. with and into a subsidiary of AMR Corporation is planned to be completed prior to the securities markets opening on Dec. 9, 2013. Assuming this expected schedule, the last day of trading of all outstanding securities of AMR, including the common stock trading under the symbol "AAMRQ," and the common stock of US Airways Group, Inc. (NYSE: LCC) will be Dec. 6, 2013.

Upon the anticipated closing of the merger on Dec. 9, 2013, AMR Corporation will be renamed American Airlines Group Inc., with its common stock to be listed and traded on the NASDAQ Global Select Market under the symbol "AAL" and its preferred stock to be listed and traded on the NASDAQ Global Select Market under the symbol "AALCP."

At the time the Plan of Reorganization becomes effective and the merger closes, each outstanding share of US Airways Group, Inc. common stock will be converted into one share of American Airlines Group Inc. common stock and substantially all pre-Chapter 11 unsecured claims against and outstanding equity securities of AMR Corporation will be satisfied by American Airlines Group Inc. common stock or preferred stock in accordance with the Plan of Reorganization.

For further information as to the treatment of claims and securities under the AMR Plan of Reorganization, please refer to: amrcaseinfo.com/plan.php.  

...wie gehts nun mit unseren Aktien weiter ? Ist jemand hier, der das mal genau erklären kann ? Danke für eine Info.



AMR Corporation (OTCQB: AAMRQ) and US Airways Group, Inc. (NYSE: LCC) are providing details over the course of the equity distribution period that investors and creditors may find useful, corresponding to each of the key equity distribution dates under AMR's Plan of Reorganization (Plan) and the companies' Agreement and Plan of Merger (Merger Agreement). Today, the companies are providing an estimate of the total number of shares of American Airlines Group Inc. common stock that may be issued pursuant to the Plan and the Merger Agreement. Upon closing of the merger contemplated by the Merger Agreement, the common and preferred shares to be issued by American Airlines Group Inc. will trade on the NASDAQ Global Select Market under the ticker symbols "AAL" and "AALCP," respectively, and will be issued to former US Airways Group, Inc. common shareholders and to AMR Corporation stakeholders as indicated under the Plan.

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Using the price of $23.4815 per share calculated from the 20 trading day average closing price of US Airways Group, Inc. common stock beginning November 1, 2013 and ending November 29, 2013, or the Share Determination Date, US Airways Group, Inc. has a fully diluted share count as defined in the Merger Agreement of 211,698,617 shares. Therefore, under the Merger Agreement the number of shares available for AMR stakeholders will be 544,361,824 and the total AAL share count will be 756,060,441.

20 Trading Day Average Close Price $23.4815          
                                                     
US Airways Fully Diluted Shares1/  211,698,617        
Shares for AMR Stakeholders        544,361,824        
Total AAL Common Share Count       756,060,441        
                                                     
1/ Per definition in Merger Agreement                

Pursuant to the Plan, shares of AAL common stock will be distributed to AMR stakeholders over time, principally over the 120 day period beginning at the date of closing of the merger, which is expected to be December 9, 2013. American Airlines Group Inc. will provide updates as to the number of shares outstanding as of closing and at the subsequent distribution dates.

Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Plan and the Merger Agreement.