Friday, December 14, 2007
Jet Blue Airways becomes the latest struggling U.S. company to get a cash influsion from overseas, as Lufthansa announced it would take a 19% stake in the discount airline for $300 million. Lufthansa is purchasing 42 million common shares at $7.27, a premium over yesterday's close of $6.25. It will also have the right to nominate one director. The deal is subject to regulatory approval. WSJ, Lufthansa to Buy 19% Stake in JetBlue.