Brazil approves LAN’s tender offer for TAM to create LATAM

Eduardo Thomson – Bloomberg, 05/07/2012

Brazil’s securities regulator paved the way to the completion of a deal that will create the world’s largest airline by market value.

CVM, as the regulator is known, approved Lan Airlines SA (LAN)’s plan to start a tender offer for shares of carrier Tam SA (TAMM4), according to a regulatory filing yesterday.

Santiago-based Lan has 10 days to make the offer for Tam shares, the airline said in a statement posted on the website of Chile’s securities regulator.

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