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Author: ultrabrite Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 268  
Subject: $8 Billion Bid for Delta Air Date: 11/15/2006 6:57 AM
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US Airways Looks to Acquire Delta

Wednesday November 15, 6:53 am ET
US Airway Looking to Buy Delta After It Emerges From Bankruptcy for About $8B in Cash, Stock

TEMPE, Ariz. (AP) -- US Airways Group Inc. said Wednesday it has made an $8 billion cash and stock offer for Delta Airlines Inc. in a deal that would create one of the world's largest airlines.
The offer to buy Delta once the Atlanta-based airline emerges from bankruptcy protection would give Delta's unsecured creditors $4 billion in cash and 78.5 million shares of US Airways stock.

The offer is a 25 percent premium over the current trading price of Delta's pre-petition unsecured claims as of Tuesday, and a 40 percent premium over the average trading price for Delta unsecured claims over the last 30 days.

If the deal is completed, the airline would operate under the Delta name and serve more than 350 destinations across five continents...


http://biz.yahoo.com/ap/061115/delta_us_airways.html?.v=6

Who says mergers cannot succeed in the airline industry?

JT :-)
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