UPDATE: Delta Air Lines (DAL), United (UAL) Said Near Avianca (AVH) Bids as Elliott Meets Suitors - Bloomberg
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(Updated - November 1, 2016 3:59 PM EDT)
Avianca (NYSE: AVH) is studying options including the sale of a controlling stake, and it is set to receive bids next week from suitors including Delta Air Lines (NYSE: DAL) and United (NYSE: UAL) according to Bloomberg, citing people familiar with the matter.
Copa Holdings (NYSE: CPA) is also expected to present a bid.
Offers may include $500 million in new capital plus a purchase of common stock from current shareholders.
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