ExpressJet Rejects SkyWest Buy Offer

Quote:

---

ExpressJet rejects SkyWest offer to acquire company

The Associated Press April 25, 2008, 10:15AM ET

HOUSTON

ExpressJet Holdings Inc. on Friday said a special committee of its board unanimously rejected an offer by SkyWest Inc. to acquire the company for $3.50 per share in cash.

The news sent ExpressJet shares up 82 cents, or 39 percent, to $2.91 in morning trading. Over the past 52 weeks, the company's shares have traded between $1.50 and $6.63.

ExpressJet said that the committee believes that the fair value of the company's stock is "substantially higher" than SkyWest's proposal and does not reflect the inherent value of ExpressJet or its prospects. [Full Article]

---