US AIRWAYS might up bid for DL another 1 BILLION
- Thread starter trvlr64
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jimcfs
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Congratulations to the "Keep Delta My Delta" folks.
Now, for Dougie's next trick.... 😉
Now, for Dougie's next trick.... 😉
phasersonstun2
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I just heard on the news about an hour ago that the bid for Delta was raised to 11 BILLION.
wildirishrose
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I was watching FOX and heard the same thing, so I googled it and sure enough, you're right. They haven't pulled out at all, they've upped the ante
CHICAGO, Jan 29 (Reuters) - US Airways Group Inc. (LCC.N: Quote, Profile , Research) may raise its hostile takeover offer for Delta Air Lines Inc. (DALRQ.PK: Quote, Profile , Research) by $1 billion under certain conditions to win support from Delta creditors, according to a report in The Wall Street Journal.
Citing people familiar with the matter, the newspaper said US Airways would raise its offer, currently worth $10.2 billion, if the official committee of creditors demanded that Delta open itself to due diligence by US Airways.
A US Airways spokesman declined to confirm the press report, but said the company was in regular contact with Delta's creditors and would be until its offer expires on Feb. 1.
A condition of US Airway's offer is the Delta's creditors would have to ask a bankruptcy judge to postpone a hearing next week on the airline's restructuring plan and agree to support the start of a formal antitrust review, according to the report.
US Airways, which increased its bid for Delta this month by about 20 percent, has given the company's creditors until Feb. 1 to support it.
The airline wants creditors to ask Delta to postpone a key bankruptcy hearing and open its books so US Airways can take a closer look at Delta's financials.
Delta's management has resisted a merger with US Airways, saying the company can provide more value as a stand-along airline.
(Additional reporting by Jessica Hall)
Citing people familiar with the matter, the newspaper said US Airways would raise its offer, currently worth $10.2 billion, if the official committee of creditors demanded that Delta open itself to due diligence by US Airways.
A US Airways spokesman declined to confirm the press report, but said the company was in regular contact with Delta's creditors and would be until its offer expires on Feb. 1.
A condition of US Airway's offer is the Delta's creditors would have to ask a bankruptcy judge to postpone a hearing next week on the airline's restructuring plan and agree to support the start of a formal antitrust review, according to the report.
US Airways, which increased its bid for Delta this month by about 20 percent, has given the company's creditors until Feb. 1 to support it.
The airline wants creditors to ask Delta to postpone a key bankruptcy hearing and open its books so US Airways can take a closer look at Delta's financials.
Delta's management has resisted a merger with US Airways, saying the company can provide more value as a stand-along airline.
(Additional reporting by Jessica Hall)
PITbull
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HERE IS THE LATEST ONLINE
http://money.cnn.com/2007/01/29/news/compa...dex.htm?cnn=yes
US Air reported to up Delta bid
Report says US Airways willing to offer additional $1 billion in cash, and termination fee in case regulators block deal.
January 29 2007: 7:45 AM EST
http://money.cnn.com/2007/01/29/news/compa...dex.htm?cnn=yes
US Air reported to up Delta bid
Report says US Airways willing to offer additional $1 billion in cash, and termination fee in case regulators block deal.
January 29 2007: 7:45 AM EST
nostradamus
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Good job in following up and trying to confirm this with another source. It is not good when some folks don't, and yell fire in a theater.
EyeInTheSky
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Somebody needs to remind Doogie that he's NOT at the craps table in Vegas for crying out loud! Personally, I think he's nuts.
Later,
Eye
Later,
Eye
D
delta777
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According to a report on msnbc.com, some creditors asked LCC to raise its bid more than $2 billion.
"The Journal said some of Delta's creditors approached US Airways late Friday, suggesting US Airways up its bid by more than $2 billion. It isn't known whether the increased bid has swayed any creditors on the committee, the newspaper said."
"The Journal said some of Delta's creditors approached US Airways late Friday, suggesting US Airways up its bid by more than $2 billion. It isn't known whether the increased bid has swayed any creditors on the committee, the newspaper said."
lgwcalling
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Is anyone else starting to feel embarrassed for Doogie and his obsession with Delta? Move on already, they're not interested!
I hope all the labor groups are watching his willingness to throw BILLIONS around.
I hope all the labor groups are watching his willingness to throw BILLIONS around.
