The board of Midwest Air Group Inc. will meet Thursday to discuss its options for a sale, following AirTran Holdings Inc.'s revival of its hostile takeover effort. There is no guarantee that Midwest's board will reach a final decision at the meeting or enter into a written agreement, the company said in a news release.Midwest had expected to agree on a sale to private investment firm TPG Capital on Wednesday, but the board delayed action to consider AirTran's new offer. Orlando-based AirTran announced that it was making another bid for the operator of regional Midwest Airlines. AirTran's latest offer stands at $16.25 a share in cash and stock, or about $445 million.TPG Capital had offered $16 a share in cash, or more than $400 million. Northwest Airlines Corp. of Minneapolis is a passive partner in the TPG deal.But AirTran returned to the fray late Tuesday, offering Midwest shareholders $10 in cash and 0.6056 of a share of AirTran stock for each Midwest share. Based on AirTran's closing price Monday, the deal was worth about $445 million.http://biz.yahoo.com/ap/070815/midwest_sale.html?.v=4FuskieWho would have been surprised if AirTran had walked away so quietly but remains nervous about a bidding war...
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