Company Watch - ABX Air.Jul 30, 2007 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. "unanimously rejected" Astar Air Cargo's proposal to acquire it for more than $450 million in cash. ABX ABX Antibiotics ABX Airborne Express ABX Abstracting ABX Albury, New South Wales, Australia - Albury (Airport Code) ABX Automatic Branch Exchange ABx Non-Antibiotics ABX Asset Backed Securities Index ABX Acoustic Bass Extension and Astar are DHL's primary subservice carriers in the US and the latter late last month issued an "indication of interest" to purchase the former and merge their air operations, which both are based at DHL's 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. , hub . In a letter to Astar Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. John Dasburg John H. Dasburg was born in Queens, New York in 1943. He grew up in Miami, Florida and served in the United States Navy during the Vietnam War. He attended the University of Florida for college, and used the GI Bill to get his MBA also from UF. , ABX President and CEO Joe Hete wrote that the board had examined Astar's proposal and "decided to reject your overture as it would not deliver adequate value to our stockholders relative to the value creation opportunity in the company's business plan." Jul 25, 2007 ABX Air announced that its Board of Directors has reviewed ASTAR Air Cargo ASTAR Air Cargo is an American cargo airline based in Miami, Florida, USA. It operates regularly secheduled cargo charter services to over 34 US airports and nine international airports, as well as worldwide charter freight services. Holdings, LLC's unsolicited indication of interest to acquire the Company and has unanimously rejected the proposal as not being in the best interest of ABX Air stockholders. Jul 23, 2007 Astar Air Cargo yesterday withdrew its "indication of interest" in acquiring fellow DHL DHL abbr. 1. Doctor of Hebrew Letters 2. Doctor of Hebrew Literature subservice carrier ABX Air for more than $450 million in cash. The move came a day after ABX President and CEO Joe Hete informed Astar Chairman, President and CEO John Dasburg that the proposed acquisition had been "unanimously rejected" by ABX's board. Dasburg wrote yesterday in a brief letter to the ABX board that Astar's proposed offer of $7.75 per share represents "a full and fair price and is generous." Rather than increasing the offer, Astar's board "unanimously determined to pursue other alternatives and we are, therefore, withdrawing our indication of interest," he wrote. Both airlines' operations are based at DHL's primary US air hub in Wilmington, Ohio. Jul 26, 2007 Editorial eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact our Director of Content Aram Gesar eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com AirGuideFlightTracker is a new service that keeps travelers informed on flight and airport status via the Web. For more go to http://www.airguideonline.com/airline_tracker.htm Copyright [c] 2007 Pyramid Media Group / Air Travel Media. All rights reserved. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion