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Manufacturing Industry

SkyWest Inc confirms offer made for ExpressJet Holdings Inc

Airline Industry Information, April 28, 2008

SkyWest Inc (Nasdaq: SKYW), the operator of SkyWest Airlines and Atlantic Southeast Airlines, confirmed on Friday (25 April) that it had put forward a proposal to acquire all outstanding shares of common stock in ExpressJet Holdings Inc for USD3.50 per share in cash.

The airline group said that its offer was not subject to a financing condition, but was subject to the completion of due diligence and also certain clarification or amendments to the collective bargaining agreement between ExpressJet and its pilots.

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SkyWest also noted that it has negotiated the principal terms of a new Capacity Purchase Agreement with Continental Airlines, which would become effective upon satisfactory completion of due diligence and consummation of the proposed transaction.

In a statement, SkyWest expressed disappointment that its proposal had been rejected by ExpressJet's Special Committee, and the group said it would be reviewing its alternatives.

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Manufacturing Industry

SkyWest Inc confirms offer made for ExpressJet Holdings Inc

Airline Industry Information, April 28, 2008

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