Mergers and acquisitions : the case of United and Continental Airlines
Autor(a) principal: | |
---|---|
Data de Publicação: | 2014 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/16655 |
Resumo: | The US airline industry is characterized to be an industry with a high competition mainly in the domestic segment. In order to face this competition several airlines entered in mergers and acquisitions (M&A) deals as way to consolidate its position in the market. This trend was accentuated with the global recession that brought several challenges to this industry. For this reason, the merger between United and Continental Airlines, two major US carriers, are being planned and its valuation and analysis are the focus of the present dissertation. By taking in account the current conditions of both airlines are estimated potential synergies of around 37,4% of the merged airline’ equity value without synergies which represent 69% of the current Continental’s market capitalization, the airline seen as the target. Given this, it is suggested an offer with a premium of 21,6% over the current Continental’s market capitalization which will constitute a deal of $3,018 million, which is here suggested to be paid all in stock. |
id |
RCAP_86893bf28c9fea1896175a8082420851 |
---|---|
oai_identifier_str |
oai:repositorio.ucp.pt:10400.14/16655 |
network_acronym_str |
RCAP |
network_name_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository_id_str |
7160 |
spelling |
Mergers and acquisitions : the case of United and Continental AirlinesDomínio/Área Científica::Ciências Sociais::Economia e GestãoThe US airline industry is characterized to be an industry with a high competition mainly in the domestic segment. In order to face this competition several airlines entered in mergers and acquisitions (M&A) deals as way to consolidate its position in the market. This trend was accentuated with the global recession that brought several challenges to this industry. For this reason, the merger between United and Continental Airlines, two major US carriers, are being planned and its valuation and analysis are the focus of the present dissertation. By taking in account the current conditions of both airlines are estimated potential synergies of around 37,4% of the merged airline’ equity value without synergies which represent 69% of the current Continental’s market capitalization, the airline seen as the target. Given this, it is suggested an offer with a premium of 21,6% over the current Continental’s market capitalization which will constitute a deal of $3,018 million, which is here suggested to be paid all in stock.Tsvetkov, PeterVeritati - Repositório Institucional da Universidade Católica PortuguesaFerreira, Jorge Miguel Braga2015-02-16T10:29:47Z2014-10-2420142014-10-24T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/16655TID:201181118enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-12-05T01:36:27Zoai:repositorio.ucp.pt:10400.14/16655Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:13:49.880573Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Mergers and acquisitions : the case of United and Continental Airlines |
title |
Mergers and acquisitions : the case of United and Continental Airlines |
spellingShingle |
Mergers and acquisitions : the case of United and Continental Airlines Ferreira, Jorge Miguel Braga Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Mergers and acquisitions : the case of United and Continental Airlines |
title_full |
Mergers and acquisitions : the case of United and Continental Airlines |
title_fullStr |
Mergers and acquisitions : the case of United and Continental Airlines |
title_full_unstemmed |
Mergers and acquisitions : the case of United and Continental Airlines |
title_sort |
Mergers and acquisitions : the case of United and Continental Airlines |
author |
Ferreira, Jorge Miguel Braga |
author_facet |
Ferreira, Jorge Miguel Braga |
author_role |
author |
dc.contributor.none.fl_str_mv |
Tsvetkov, Peter Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Ferreira, Jorge Miguel Braga |
dc.subject.por.fl_str_mv |
Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
The US airline industry is characterized to be an industry with a high competition mainly in the domestic segment. In order to face this competition several airlines entered in mergers and acquisitions (M&A) deals as way to consolidate its position in the market. This trend was accentuated with the global recession that brought several challenges to this industry. For this reason, the merger between United and Continental Airlines, two major US carriers, are being planned and its valuation and analysis are the focus of the present dissertation. By taking in account the current conditions of both airlines are estimated potential synergies of around 37,4% of the merged airline’ equity value without synergies which represent 69% of the current Continental’s market capitalization, the airline seen as the target. Given this, it is suggested an offer with a premium of 21,6% over the current Continental’s market capitalization which will constitute a deal of $3,018 million, which is here suggested to be paid all in stock. |
publishDate |
2014 |
dc.date.none.fl_str_mv |
2014-10-24 2014 2014-10-24T00:00:00Z 2015-02-16T10:29:47Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/16655 TID:201181118 |
url |
http://hdl.handle.net/10400.14/16655 |
identifier_str_mv |
TID:201181118 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
|
_version_ |
1799131816938962944 |