Gilding the Lily
Veteran
- Oct 30, 2006
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US Airways Group Inc. is willing to increase its hostile takeover offer for Delta Air Lines Inc. by $1 billion under certain conditions as part of a last-ditch effort to win support from Delta creditors, according to people familiar with the matter.
The Tempe, Ariz., carrier said over the weekend that it would sweeten its $9.8 billion cash-and-stock bid to about $10.8 billion if the official committee of creditors approaches Delta with a demand that the Atlanta airline open itself to due diligence by US Airways, these people said. To get the additional $1 billion, all in cash, the committee ...
The Tempe, Ariz., carrier said over the weekend that it would sweeten its $9.8 billion cash-and-stock bid to about $10.8 billion if the official committee of creditors approaches Delta with a demand that the Atlanta airline open itself to due diligence by US Airways, these people said. To get the additional $1 billion, all in cash, the committee ...