PAL Holdings stake worth about $500 million

MANILA, Philippines  -  Shares of PAL Holdings, the listed parent firm of legacy carrier Philippine Airlines , were heavily traded on Tuesday, April 3, amid reports that a deal with conglomerate San Miguel Corp. is imminent. The day ended, however, with no deal finalized. Key personalities from both sides — PAL Holdings chair Lucio Tan and San Miguel president Ramon Ang were at the meeting on Tuesday afternoon but the earlier scheduled deal signing did not push through.