United and Continental are considering a stock-for-stock merger

United Airlines (UAL Corporation) (Chicago) and Continental Airlines (Houston) are considering a stock-for-stock merger with no premium, creating a company valued at roughly $6.6 billion, a person familiar with the matter said on Thursday April 22 according to this Reuters report.

UAL Chief Executive Glenn Tilton would become chairman of the combined company, while Continental Chief Executive Jeff Smisek would become chief executive, according to the person, who declined to be named because the talks are private.

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Copyright Photo: A beautiful capture of United Airlines’ Boeing 767-322 ER N653UA (msn 25391) climbing away from the Washington (Dulles) hub. Both carriers are members of the Star Alliance.