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An investment group that includes Northwest Airlines said it would buy Midwest Air Group for more than $400 million less than an hour after AirTran abandoned a two-year hostile takeover bid for the same carrier.
The investors, led by TPG Capital would convert Midwest Air to a privately held company.

TPG's $16-per-share cash offer to acquire all outstanding Midwest shares topped AirTran's final offer -- an increased bid of $15.75 a share that AirTran spokesman Tad Hutcheson said made the equity value of the transaction more than $431 million, based on Friday's closing price of AirTran stock.

http://biz.yahoo.com/ap/070813/midwest_sale.html?.v=5

Disclosure: TPG is also the financial backer behind the private equity firm in the process of purchasing my employer.

Fuskie
Who does not understand the move strategically as the two airlines share many of the same routes...
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