LAN Airlines shareholders approved the Santiago de Chile-based carrier's planned merger with Brazil's TAM under LATAM Airlines Group, taking another step toward the expected completion of the combination early next year. LATAM will control more than 40% of the Latin American air passenger market. The transaction will take the form of an all-stock exchange in which TAM shareholders will be offered 0.9 shares of common stock of LATAM for each share of TAM. TAM shareholders are ...

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