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ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

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Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

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Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

Today's Transactions:
Delta Buys Stake in Virgin Atlantic for $360M

The deal will expand Delta’s New York-London route capabilities

Delta Air Lines (NYSE: DAL) will buy 49 percent of Virgin Atlantic Airways Ltd. for $360 million in a deal that will expand its New York to London flight capabilities.

Virgin Atlantic founder Richard Branson will retain 51 percent of the company.

The 49 percent that Delta will buy is currently owned by Singapore Airlines.

The companies will share the costs and revenues from all joint venture flights.  Customers with access will be able to use both Delta Sky Club and Virgin Atlantic Clubhouse airport lounges.

"Our new partnership with Virgin Atlantic will strengthen both airlines and provide a more effective competitor between North America and the U.K., particularly on the New York-London route, which is the largest airline route between the U.S. and Europe," says Delta chief executive Richard Anderson.

The airlines plan to file an application with the U.S. Department of Transportation for antitrust immunity. The deal is subject to regulatory approval.

Delta, headquartered in Atlanta, flies to 313 destinations in 58 countries. London-based Virgin Atlantic flies to 34 destinations. 

 

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