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Old 01-10-2007, 05:46 AM
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Default US Airways raises Delta Air Lines offer

ATLANTA - US Airways Group Inc. raised its offer for Delta Air Lines Inc. by 20 percent to $10.2 billion on Wednesday, as it seeks to put pressure on the bankrupt carrier's creditors to agree to a deal that Delta's management opposes.

It also set a Feb. 1 deadline for certain conditions to be met or its entire bid would be revoked.

US Airways said it would raise its offer by $1.7 billion from its Nov. 15 bid that was currently valued at $8.5 billion.

The increased offer comes just two weeks after the chief of Tempe, Ariz.-based US Airways, Doug Parker, told The Associated Press that his company had no intention at the time to increase its offer.

http://news.yahoo.com/s/ap/20070110/...lta_us_airways
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Old 01-10-2007, 06:14 AM
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Another billion in cash AND Morgan Stanley onboard? This is a tempting deal for the creditors. It sure will be hard to stop this train.
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Old 01-10-2007, 06:32 AM
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It sure will be hard to stop this train.
I would imagine Grinstein is looking for the ripcord on his golden parachute.
Another blue uniform.

Ohhhh the whaling and gnashing of teeth this will bring.
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Old 01-10-2007, 07:32 AM
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Default Hmmm...

Anybody suspect that Parker is looking at the breakup value of the combined company's assets? $10.2 billion might be a bargain.
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Old 01-10-2007, 09:36 AM
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What ever he is looking at you can be sure it's his bank account.
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