US Airborne-DHL proposed merger means spinoff of ABX Air

At its annual meeting this week in Seattle, Airborne Inc. will count shareholder ballots cast in the proposed merger between Airborne and Deutsche Post owned DHL. If approved, the merger will cause the spinoff of Airborne’s air arm, ABX Air, into a publicly traded company. ABX would continue operation as an Airborne-DHL provider with its hub at Wilmington, Ohio, under an Aircraft, Crew, Maintenance and Insurance (ACMI) contract. Most of Airborne’s 48 million shares, approximately 88 are held by institutions. Under the merger package, Airborne shareholders would receive $21.65 for each Airborne share, plus a share of stock in ABX Air. Airborne’s stock topped out last week in the high-$22 range, rising from a 52-week low of $10.29.