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Chronicles from a Caribbean Cubicle

12/24/2007

Not Really A Merger...

In May I wrote about the fact that the LIAT/Caribbean Star "merger' was really turning out to be an acquisition.

Now, several months later, in December, all pretense of a merger has fallen away and the only public conversation is about the pending acquisition.

This, in an article from Caribbean360.com:

BRIDGETOWN, Barbados, November 15, 2007 - The seven-year-old Caribbean Star will operate its final flight today, marking a takeover by competitor LIAT, in a buyout that Chairman, Jean Holder describes as "one of the most significant business deals in the history of the Caribbean".

Late last month, the two carriers finalised and executed an agreement that facilitated the transfer of Caribbean Star's assets to LIAT. That asset purchase agreement did not include the remaining five aircraft leased by Caribbean Star which are expected to be transferred to LIAT in a separate transaction expected to coincide with today's closure of the carrier, owned by Antigua-based Texan billionaire Sir Allen Stanford.



Would it have been more truthful to just say this from the very beginning?

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