Manufacturing Industry
Air France expects takeover of KLM to remain on schedule
Airline Industry Information, April 28, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Air France has said that a legal challenge in the Netherlands will not delay its planned takeover of KLM Royal Dutch Airlines.
A Dutch shareholders' lobby, VEB, has asked a court to extend Air France's all-share offer until after the release of KLM's financial results for 2003/04. Under the current schedule the offer will expire on 3 May, two days before the results are published.
In a joint statement, Air France and KLM said that they do not believe there is any reason to delay the completion of the exchange offer.
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