From Bloomberg.com:
US Airways Offers $8 Billion in Cash and Shares for Delta Air
By Brendan Walsh
Nov. 15 (Bloomberg) -- US Airways Group Inc. said today it has proposed merging with Delta Air Lines Inc., which is currently operating under bankruptcy protection.
Delta's creditors would receive $4 billion in cash and 78.5 million shares of US Airways, which would be worth about $4 billion based on the stock's closing price yesterday, US Airways said in a statement distributed by PR Newswire.
To contact the reporter on this story: Brendan Walsh in New York at
[email protected]