NEW YORK - Delta Air Lines Inc and Northwest Airlines Corp said on Monday they have agreed to merge in a deal valued at more than $3 billion, aiming to cut costs amid skyrocketing fuel prices and compete better globally.
Under the terms of the proposed deal, which would create the world's largest airline, Delta will acquire Northwest in an all-stock swap in which Northwest shareholders will receive 1.25 Delta shares for each Northwest share they own.
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