Continental and United shareholders to vote on merger

Washington DC
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Next month, Continental and United Airlines shareholders will be able vote on the planned merger of the two carriers.

According to a filing with the US Securities and Exchange Commission (SEC), the two companies will each hold meetings at 10 AM on 17 September. Continental's meeting will be held at a hotel in Houston, the city where the company is located. Meanwhile, United shareholders will meet at the airline's Education and Training centre in Elk Grove, Illinois, near Chicago.

If the merger plan is approved, Continental shareholders will receive 1.05 shares of United parent UAL Corporation stock for each share of Continental stock.

Shareholder approval is one of many steps in the process of merging the two companies. In July, the airlines announced the leadership team of the new airline, and also reached an agreement in principle on a transition agreement with the airlines' two pilot groups.

The merger also requires anti-trust approval from the US Department of Transportation (DOT). The European Commission approved the deal on 27 July.