Atlas Air to acquire Southern Air in $110m takeover

Atlas Air Worldwide Holdings has entered into a definitive agreement to acquire privately held Southern Air Holdings, a US provider of intercontinental and domestic air cargo services.
The deal is "an immediately accretive, all-cash, debt-free transaction" valued at approximately $110m, said Atlas.
The transaction is subject to customary closing conditions and approval by the US Department of Transportation, and is expected to close in the next few months.
More to follow…

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