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US Airways Group, Inc. Announces Offering to Sell Common Stock
Started Aug 14 at 12:08 ET (By PavelR)
Symbols: LCC
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20080814005704&newsLang=en
"LCC announced today that Merrill Lynch & Co., as sole underwriter, has agreed to purchase 19,000,000 shares of the Company’s common stock in an underwritten public offering...
The Company has asked the New York Stock Exchange to halt trading"
can anybody explain what does it mean?
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guliamo
Aug 14 at 1:21 ET
I think it means they are freezing trading until the deal price is advertized. At this point it is not fare to share holders who don't have enough information about the sale yet.
Once the deal is reached, they will resume trading.