Report: ASTAR says ABX Air mum on merger offer
The Associated Press reports that air freight service company ASTAR Air Cargo Holdings LLC has said it would withdraw its acquisition proposal for cargo airline ABX Air Inc. if it does not receive a response by Wednesday.
Last month ASTAR offered to acquire all outstanding shares of ABX for about $454 million, though it said the offer was an indication of interest, not a formal bid.
The wire service quoted a letter dated Monday from John Dasburg, ASTAR’s chairman and chief executive officer, which said he has not received any response from ABX Air about the offer.
Report: ASTAR says ABX Air mum on merger offer
