Continental Airlines’ stockholders have voted
overwhelmingly to approve the merger of a wholly-owned subsidiary
of UAL Corporation with and into Continental at a special meeting
held in Houston, Texas. UAL Corporation’s primary subsidiary is
More than 98%of the votes cast and 75% of shares
outstanding were voted in favor of the transaction.
“We are grateful for our stockholders’ strong
vote of confidence in this merger,” said Jeff Smisek,
Continental’s chairman, president and chief executive officer. “In
approving the transaction, our stockholders recognized the value
of bringing together Continental and United to create a platform
for increased profitability and sustainable long-term value.”
Stockholders of UAL Corporation also voted to
approve the merger at a meeting held in Chicago, Illinois.
Continental and United announced an all-stock merger of equals in
May 2010. The companies have received clearance on the
proposed merger from the United States Department of Justice and
the European Commission. The merger is currently expected to close
by 1 October 2010.
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