Continental Airlines’s (CAL) pursuit of United parent UAL (UAUA) continues, according to a report this afternoon by The Wall Street Journal’s Susan Carey and Gina Chon.
Continental’s board of directors convened a special meeting to discuss a potential deal, the authors report, citing “people familiar.”
“It is likely the Continental board on Wednesday was briefed on the outlines of what has been worked out so far and possibly asked to approve a range of prices in an effort to resolve the share-price issue,” the authors report.
Sources suggest a deal could be announced early next week.
Continental shares today are up 52 cents, or 2.4%, at $22.14, while United is up $1.38, or 7%, at $21.89.
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