ASA Holdings and Delta Announce Amendment To Acquisition Agreement.ATLANTA--(BUSINESS WIRE)--March 10, 1999--ASA Holdings, Inc. (Nasdaq/NM: ASAI), parent company of Atlantic Southeast Airlines For the defunct low-fare airline, see . Atlantic Southeast Airlines (ASA) is a fully certificated American airline based in Atlanta, Georgia, USA flying to 144 destinations as a Delta Connection carrier. It is a wholly owned subsidiary of SkyWest, Inc. , Inc. (ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and ), and Delta Air Lines, Inc. today announced an amendment to their Acquisition Agreement to eliminate the $5,000,000 break-up fee that would otherwise have been payable to Delta if the Agreement were to be terminated as a result of ASA Holdings receiving and accepting a superior offer for its shares. The amendment to the Agreement was entered into among ASA Holdings, Inc., Delta and Delta Sub, Inc., a Delta subsidiary, in connection with an agreement-in-principle to settle litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. commenced by certain ASA Holdings' shareholders with respect to the transactions contemplated by the Agreement. Both the amendment to the Agreement and the memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. setting forth the terms of the agreement-in-principle will be filed today with the Securities and Exchange Commission as exhibits to an amendment to ASA Holdings' Schedule 14D-9. As previously announced, the offer and withdrawal rights under Delta's tender offer for all outstanding shares of common stock of ASA Holdings will expire at 12:00 midnight, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on March 19, 1999, unless the offer is extended. |
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