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Qatar Airways seeks 10 pct stake in American Airlines
NEW YORK (AP) — Qatar Airways is attempting to buy a 10 percent stake in American Airlines, triggering U.S. antitrust oversight over deals of such size.
American said in a regulatory filing Thursday that the bid was unsolicited, but that there have been conversations between the CEOs of both airlines.
Qatar submitted a filing under the Hart-Scott-Rodino Act, which is subject to review by the Justice Department's Antitrust Division.
Qatar plans to buy at least $808 million in common stock. American's certificate of incorporation restricts anyone from buying 4.75 percent or more of its shares without advanced board approval following a written request. American says it hasn't received such a request.