US Airways raises Delta Air Lines offer
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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
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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