Delta and Northwest Stockholders Approve Merger

The stockholders of Delta Air Lines and Northwest Airlines have approved the pending merger between the two companies. Delta stockholders approved the issuance of 1.25 shares of Delta common stock for each outstanding share of Northwest stock to be distributed upon closing of the merger, expected later this year. The proposal was approved by approximately 99% of the votes cast by Delta stockholders while more than 98% of the votes cast by Northwest stockholders were voted in favor of the merger.

Delta stockholders also approved an amendment to Delta's broad-based employee compensation program that will allow the company to distribute equity to U.S.-based employees of the combined company shortly after the merger closes. This amendment was approved by approximately 92% of the shares of Delta common stock voting on the proposal.

"We appreciate that stockholders recognize the benefits the Delta-Northwest merger will offer our company, customers, employees, and the communities we serve. This is another milestone toward completing a merger that brings together two unique airlines with complementary strengths that will offer unmatched global service," said Richard Anderson, CEO of Delta.

"Providing both Delta and Northwest employees with the ability to share in the benefits of the merger from the beginning is a prime example of the Delta Difference," Anderson added. "By distributing equity to our employees we're not only recognizing the critical role employees will play in successfully integrating two customer-focused companies, we're also making good on a longstanding commitment that our employees will share in the success their hard work makes possible."

Delta in April announced that it is combining with Northwest in an all-stock transaction to create a global airline. The new company will be called Delta and will be headquartered in Atlanta. The combined company and its regional partners will provide customers access to more than 390 destinations in 67 countries. Together, Delta and Northwest will operate a mainline fleet of nearly 800 aircraft, employing approximately 75,000 people worldwide.

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