American Airlines on Thursday said it recently received an unsolicited offer from Qatar Airways about its intention to acquire at least a 10 percent stake in its company.
The notice advised that Qatar intends to purchase at least $808 million following a conversation between the two companies’ CEOs, which was initiated by Qatar Airways’ CEO, American said in a statement.
American said Thursday it will respond to the notice “in due course” with the appropriate filings required under the Hart-Scott-Rodino (HSR) Act. Qatar Airways has also submitted a filing under the HSR Act, with respect to its potential investment in American Airlines common stock.
Shares of American Airlines jumped nearly 5 percent on the statement.
Meanwhile, other airline stocks also climbed higher following this announcement.
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