goodmanr
Posts: 289
Joined: Tue Apr 12, 2005 3:49 am

US/HP Merger Cash Sources

Mon Jul 18, 2005 4:14 am

i know one of the cash infusions came from a credit card issuer. bank of america currently issues the dividend miles visa card, and i think the flight fund card, so i would imagine this is coming from bank of america?? can anyone confirm this, will bank of america continue to issue dividend miles visa after the merger? also, anyone know how they plan on combining the FF programs? will it be called dividend miles or flight fund?
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A330323X
Posts: 2666
Joined: Thu Oct 09, 2003 4:06 pm

RE: US/HP Merger Cash Sources

Mon Jul 18, 2005 4:17 am

i know one of the cash infusions came from a credit card issuer. bank of america currently issues the dividend miles visa card, and i think the flight fund card, so i would imagine this is coming from bank of america??

Likely, but the issue is still being discussed/negotiated.

also, anyone know how they plan on combining the FF programs? will it be called dividend miles or flight fund?

Likely Dividend Miles, but, again, it's still being discussed/negotiated.


Expect a lot more information to be released in the next week or so, regarding the executives/officers, and perhaps some information on this sort of thing.
I'm the expert on here on two things, neither of which I care about much anymore.
 
avek00
Posts: 3186
Joined: Mon Oct 25, 2004 5:56 am

RE: US/HP Merger Cash Sources

Mon Jul 18, 2005 4:22 am

Quoting Goodmanr (Thread starter):
i know one of the cash infusions came from a credit card issuer.

The funding sources of the merger are outlined in the merger press releases and subsequent SEC filings, and Bank of America is not among the financiers.

The other questions are yet to be answered.
Live life to the fullest.
 
A330323X
Posts: 2666
Joined: Thu Oct 09, 2003 4:06 pm

RE: US/HP Merger Cash Sources

Mon Jul 18, 2005 6:47 am

Quoting Avek00 (Reply 2):
The funding sources of the merger are outlined in the merger press releases and subsequent SEC filings, and Bank of America is not among the financiers.

No, he wasn't talking about an equity investor, he was talking about the $300 million signing bonus US/HP expects from their affinity credit card issuer.

From the merger press release:

The companies have signed commitments or firm proposals for more than $425 million in additional cash liquidity from strategic partners and vendors, including over $300 million in a signing bonus and a loan from prospective affinity credit card providers for the merged company.

Those negotiations are still ongoing, and BofA may very well be the provider chosen.
I'm the expert on here on two things, neither of which I care about much anymore.
 
goodmanr
Posts: 289
Joined: Tue Apr 12, 2005 3:49 am

RE: US/HP Merger Cash Sources

Mon Jul 18, 2005 11:37 am

Quoting A330323X (Reply 3):



Quoting A330323X (Reply 3):
330323X From United States, joined Oct 2003, 1260 posts, RR: 27
Reply 3, posted Sun Jul 17 2005 23:47:20 UTC+2 and read 82 times:


Quoting Avek00 (Reply 2):
The funding sources of the merger are outlined in the merger press releases and subsequent SEC filings, and Bank of America is not among the financiers.

No, he wasn't talking about an equity investor, he was talking about the $300 million signing bonus US/HP expects from their affinity credit card issuer.

From the merger press release:

The companies have signed commitments or firm proposals for more than $425 million in additional cash liquidity from strategic partners and vendors, including over $300 million in a signing bonus and a loan from prospective affinity credit card providers for the merged company.

Those negotiations are still ongoing, and BofA may very well be the provider chosen.

Thanks A330 for the good info, I appreciate it! I'm guessing BofA, I work for another card issuing bank (hint:largest FF card program) and i know its not us.
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