United Looks to Unite By Ted Reed TheStreet.com Staff Reporter 9/25/2006 3:12 PM EDT Click here for more stories by Ted Reed United Airlines has furthered its quest for a partner, hiring Goldman Sachs to explore strategic options including a merger. Crain's Chicago Business said the investment bank is expected to assist United assess the value of its domestic and international holdings, advise it on sales or purchases of domestic or international routes, and scout for mergers. Shares of United's parent, UAL Corp. (UAUA - commentary - Cramer's Take), were trading at $28 on Monday, up 18 cents, or 0.7%. The shares have fallen nearly 30% since they began trading at $40 after the airline emerged from bankruptcy protection in February. During the same period, the Amex Airline Index has been flat. United CEO Glenn Tilton has long been a public advocate of airline consolidation but has offered few specifics beyond noting that United is interested. United has apparently conveyed that interest to both Continental Airlines (CAL - commentary - Cramer's Take) and Delta Air Lines (DALRQ - commentary - Cramer's Take). When US Airways (LCC - commentary - Cramer's Take) CEO Doug Parker contacted Delta last month to express his interest in a merger, US Airways said the call was prompted by reports that other airlines had contacted Delta earlier, though it has not specified the airlines. United apparently contacted Continental regarding the possibility of a merger, industry sources told TheStreet.com this spring. A likely scenario for a United-Continental merger would be a combined airline run by Continental's management, resembling the 2005 takeover of US Airways by the far-smaller America West Airlines that Parker headed. Page 1 2 3 NEXT PAGE > View our videos at: http://www.youtube.com/profile?user=ewrw4co Roger & Amanda La France