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Article Excerpt
MIAMI, Fla. -- ASTAR Air Cargo Holdings, LLC today disclosed that on Tuesday, June 26th, John Dasburg, ASTAR Air Cargo chairman, president and chief executive officer, sent the following letter to the board of directors of ABX Air, Inc. (NASDAQ:ABXA):
June 26, 2007
The Board of Directors of ABX Air, Inc.
c/o W. Joseph Payne, Secretary
145 Hunter Drive
Wilmington, Ohio 45177
Gentlemen:
As you are aware, beginning in December 2006, ABX Air chief executive officer and president Joe Hete and I have had informal conversations in which I, on behalf of ASTAR, advised Mr. Hete of ASTAR's desire to pursue an all-cash acquisition of ABX Air. On June 19, 2007, I advised Mr. Hete telephonically that the boards of directors of ASTAR Air Cargo Holdings, LLC and its subsidiaries (collectively, "ASTAR") have unanimously authorized me to express ASTAR's interest in acquiring all of the outstanding shares of ABX Air, Inc. ("ABX" or the "Company"). I also invited Mr. Hete to meet with me to discuss ASTAR's interest in a combination of ABX and ASTAR. That meeting is scheduled to occur on Thursday June 28, 2007 in Key Biscayne, Florida. I had intended to address a letter to you only after I had had the opportunity to discuss our interest with Mr. Hete personally. Regrettably, unusual...
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