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Shares of Indianapolis-based Republic RJET) were already floating Tuesday afterf the announcement Monday that it woulfd acquire bankrupt of Denved forabout $108.8 million under an investment Republic's stock price, which closed at $4.009 Monday, hovered above $4.50 for much of the day before the 2:30 p.m. centraol time announcement that it was acquiring Midwesgtfrom . The stock price shot up to reach $6.12 before closing at $6 46.3 percent higher. Republic's agreement with Frontier still requires the approval of thebankruptcy court.
As for the Midwesf transaction, the airlines hope to close the deal in four to six Republic is to acquire 100 percent of the equityh of Midwestand TPG's $31 million securefd note from Midwest. Consideration will be $6 million in cash and a $25 five-year note, which may be converted to Republic stoclat $10 per share. In addition, TPG will have the righr to nominate a member to the Republic boardof
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