Copa has presented a financial offer in cash and stock to acquire the second largest airline in the region after Latam Airlines.

The New York Times reported that the offer made by Copa Airlines consists of “…  a merger that would value Avianca at more than $2 billion, or a 150 percent premium to its share price last week. [November 29]”.

Two other airlines also presented their proposals. “…United offered a $500 million loan to Avianca and potentially one of its investors… Delta offered more than $1 billion in cash, a majority of which would go to buy out most of the Synergy Group, Mr. Efromovich’s investment arm, with the rest going to Avianca. The Delta bid implied a $1.9 billion valuation.“

See full article As Avianca Weighs Bids, Hedge Fund Plays Unusual Role: Diplomat

Source: CentralAmericaData.COM