Originally Posted by
J.Edward
That may not be the case. I believe a change of control at NW give CO the
option of redeeming their share for $100.
“NW Change of Control” means:
(i) a merger,
reorganization, share exchange, consolidation, tender or exchange offer, private purchase, business combination,
recapitalization or similar transaction as a result of which...a Major Carrier, any of its Affiliates or any combination thereof acquires, directly or indirectly, Beneficial Ownership of 25% or more of the Capital Stock or Voting Power of a Northwest Affected Company.
Here's the source thread with the entire agreement.
As I read what you posted, there's no NW Change of Control, since no Major Carrier will own 25% or more of the Capital Stock or Voting Power of NW after it emerges from bankruptcy. If there is no change in control, the golden share can't go away, correct?
I don't think the full NW Change of Control provision in the linked post changes anything - essentially, there is only a NW Change of Control if NW is bought by (or in some cases buys) another airline, or sells its Trans-Pacific routes.