US airline ExpressJet said on Monday it was still reviewing strategic alternatives following an unsolicited bid by SkyWest, which it initially rejected.
The company also said it plans to call a special meeting of stockholders to approve the potential issue of more shares to secure new terms for debt holders.
ExpressJet in April rejected SkyWest's USD$3.50-a-share bid, saying the fair value of its stock was substantially higher than that.
The company said on Mon
US airline ExpressJet said on Monday it was still reviewing strategic alternatives following an unsolicited bid by SkyWest, which it initially rejected.
The company also said it plans to call a special meeting of stockholders to approve the potential issue of more shares to secure new terms for debt holders.
ExpressJet in April rejected SkyWest's USD$3.50-a-share bid, saying the fair value of its stock was substantially higher than that.
The company said on Monday that it is "continuing to explore a full range of strategic and operational alternatives," and the board's chairman said it would evaluate ways to boost shareholder value amid "macro-economic headwinds."
ExpressJet also said it was in talks for a capacity purchase agreement with Continental Airlines.
ExpressJet began flying under its own brand last year to put a quarter of its fleet to use after former parent Continental canceled a capacity purchase agreement.
ExpressJet shares closed down 3 percent, or 6 cents, at USD$1.97 on the New York Stock Exchange on Monday.
day that it is "continuing to explore a full range of strategic and operational alternatives," and the board's chairman said it would evaluate ways to boost shareholder value amid "macro-economic headwinds."
ExpressJet also said it was in talks for a capacity purchase agreement with Continental Airlines.
ExpressJet began flying under its own brand last year to put a quarter of its fleet to use after former parent Continental canceled a capacity purchase agreement.
ExpressJet shares closed down 3 percent, or 6 cents, at USD$1.97 on the New York Stock Exchange on Monday.
