CONTINENTAL AIR HOLDERS TO GET FURTHER PAYMENT
Texas Air Corp said under a settlement
of class action litigation with <Mutual Shares Corp>, former
minority shareholders of Continental Airlines Inc will receive
an additional 3.75 dlrs per share.
    In February, Texas Air acquired the minority interest in
Continental that it did not already own for 16.50 dlrs per
share. Mutual had challenged the adequacy of the price.
    Texas Air said any former Continental holder who has sought
appraisal rights under Delaware law may continue to seek the
appraisal remedy in Delaware Chancery Court or accept the
settlement and drop the appraisal process.
    Texas Air said the settlement has other terms relating to
employee shareholdrs of Continental, who will receive options
from Texas Air.  It did not give details.
    The company said the settlement is subject to approval by
the Delaware Chancery Court, which is expected to take about 60
days.
 Reuter
