Continental, UAL agree on exchange ratio: source

NEW YORK (BestGrowthStock) – Continental Airlines Inc (CAL.N: ) and UAL Corp’s (UAUA.O: ) United Airlines have agreed to an exchange ratio of 1.05 UAL shares for each Continental share in a deal that would create the world’s largest carrier, a source briefed on the matter said.

United’s board will meet Friday, while Continental’s board will hold meetings on Friday and Sunday to discuss the deal, the source said.

An announcement could come as early as Sunday, the source said.

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(Reporting by Jui Chakravorty, editing by Gerald E. McCormick)

Continental, UAL agree on exchange ratio: source