Air Transport World

DHL buys Airborne units. (News Briefs).(Brief Article)

DHL will acquire all of Airborne's operations except ABX Air, its airline unit, at a price of $21.25 per share for a total of approximately $1.05 billion under a definitive merger agreement reached by the two companies March 25. "The combination of DHL and Airborne will enable us to create a much stronger competitor, which will benefit a broader range of express delivery customers," said Airborne Chairman and CEO Carl Donaway, who becomes CEO of the enlarged DHL business in the US.

Upon conclusion of the transaction, which is expected during the summer, ABX Air will become an independent public company owned by Airborne shareholders, who will receive one share of ABX for every share of Airborne they hold. …

Log in to your account to read this article – and millions more.