ABX Air Responds to ASTAR's Letter Dated July 16, 2007.WILMINGTON, Ohio For other places with the same name, see Wilmington (disambiguation). Wilmington is a city in Clinton County, Ohio, United States. The population was 11,921 at the 2000 census. It is the county seat of Clinton County. -- The ABX Air ABX Air (NASDAQ: ABXA) is a cargo airline based in Wilmington, Ohio, USA. It operates scheduled, ad hoc charter and ACMI freight services, including overnight express small-package services and freight in the USA, Canada and Puerto Rico. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABXA) Board of Directors, consistent with its fiduciary duties Noun 1. fiduciary duty - the legal duty of a fiduciary to act in the best interests of the beneficiary legal duty - acts which the law requires be done or forborne and commitment to enhancing value for shareholders, has been conducting an evaluation of the indication of interest previously proposed by ASTAR on June June: see month. 26, 2007. With the consultation of the Company's legal and financial advisors, the Board and management have conducted several meetings and conference calls to discuss ASTAR's indication of interest. The Board and its advisors are scheduled to meet again on Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant , July 20, 2007, and expect to have a response to ASTAR's indication of interest by next week. Goldman, Sachs & Co. is acting as financial advisor to the Company. Sullivan & Cromwell is serving as legal counsel. The Company responded to ASTAR with the following reply:
John H. Dasburg
Chairman, Chief Executive Officer and President
ASTAR Air Cargo Holdings, LLC
2 South Biscayne Blvd. Suite 3663
Miami, Florida 33131
Dear John,
I am responding on behalf of the ABX Air Board of Directors
to your July 16 letter.
ABX Air's Board of Directors has engaged financial and legal
advisors to assist in its careful evaluation of ASTAR's $7.75
per share indication of interest. These advisors are
scheduled to meet with ABX Air's Board of Directors this
Friday, July 20, and I expect that ABX Air will have a
response to ASTAR's indication of interest by next week.
Very truly yours,
ABX Air, Inc.
Joseph C. Hete
President and Chief Executive Officer
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion