Northwest, Delta Shareholders Approve Tie-up

Northwest and Delta stockholders have overwhelmingly approved a proposed $17 billion merger of the airlines.

More than 98 percent of Northwest shares and 99 percent of Delta shares voted to adopt the merger agreement. Delta stockholders approved the issuance of 1.25 shares of Delta common stock for each outstanding share of Northwest stock to be distributed upon closing of the merger.

Delta stockholders also approved an amendment to Delta's broad-based employee compensation program that will allow the company to distribute equity to U.S.-based employees of the combined company shortly after the merger closes. This amendment was approved by approximately 92 percent of voting shares, said Delta.

The carriers anticipate that the Delta-Northwest combination will receive Justice Department approval by the end of the year, and that the merger will be finalized before the end of 2008.