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AMR (AAMRQ.PK) has sent nondisclosure agreements to US Airways (LCC) and "others," - presumably...

AMR (AAMRQ.PK) has sent nondisclosure agreements to US Airways (LCC) and "others," - presumably other potential suitors - a move that takes the merger process to the next stage. AMR is also exploring deals with smaller rivals JetBlue (JBLU), Alaska Air (ALK), Republic Airways's (RJET) Frontier Airlines, and Virgin America.
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Comments (3)
  • Ward C
    , contributor
    Comments (27) | Send Message
     
    Question: Do any of the 944 people who received this notice own the 7.875% PINES ETD due 2039, and if yes, do you have any insight on what just might happen with that security. I have been tracking this security (AAR) since 1/7/12, at which time the price was 4.65. On 5/15/12, I sold one third of my shares for $11.11 per share. As of 7/27/12, the last closing price was $14.20. The highest I have seen thus far was on 7/20/12 for $14.80. I am using FINRA for my price data using the CUSIP number: 001765866. I’m using my on-line broker to execute my trades.

     

    The fact that the price continues to move upward implies that it still has real value. I just don’t know where the top of that movement will end. When American emerges from bankruptcy, either alone or in a merger, will these shares of AAR be made whole and/or traded for something else. If I sold out now my losses would be around 50% rather than 100%, but I would much rather be patient if there is a chance I might lose zero.

     

    Any thoughts would be welcome,

     

    Ward
    29 Jul 2012, 07:26 AM Reply Like
  • MexCom
    , contributor
    Comments (3064) | Send Message
     
    I too own the PINES and also have noticed an increase in value for the shares with fluctuation on a daily basis from my broker but have know knowledge on how or where they are quoted or if there is a market for these shares.

     

    As far as I'm concerned, I'm entitled for the full value of $25/share and all the back interest due before any common stockholder gets anything at all. I would complain to the SEC if there is any larceny involved.
    29 Jul 2012, 11:10 AM Reply Like
  • Ward C
    , contributor
    Comments (27) | Send Message
     
    MexCom,

     

    Yes, there is a market for the PINES shares. As I said, I have sold one third of my shares so far. The price can be found here:

     

    http://bit.ly/MOj4Ob

     

    Click on “Watchlist” and enter in the CUSIP number. You will get the current trade price, but no volume values.

     

    I have received documentation from the Bankruptcy Court asking me for prof of my shares as well.

     

    Ward
    30 Jul 2012, 08:39 AM Reply Like
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