by: Gilson, Stuart C.; Cott, Jeremy
Source: Harvard Business School
In the largest attempted employee-buyout in history, a large U.S. commercial airline seeks substantial wage concessions from its employees in return for 53% stake in the airline's common stock and guaranteed seats on the board of directors. Management must convince employees, shareholders, Wall Street analysts, and the media that the buyout makes sense from value, operating, and strategic perspectives.
Link: UAL Corp.
Publication Date: 1995-04-19