Santiago de Chile-based LAN Airlines and Brazil's TAM have extended to June 21 the share exchange offer, part of the merger process between the two carriers under LATAM Airlines Group (ATW Daily News, Dec. 23, 2011). The extension will give more time for shareholders to sign up for the exchange. To complete the process, TAM’s controlling shareholders have to reach 95% of the outstanding TAM shares. However, the carriers fell short at the first exchange attempt, reaching only ...

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