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Author: Fuskie Big funky green star, 20000 posts Top Favorite Fools Old School Fool Ticker Guide SC1 Red Winner of the 2010 Rule Breakers Challenge Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 470  
Subject: Down But Not Out Date: 8/17/2007 11:31 AM
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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=4

Fuskie
Who would have been surprised if AirTran had walked away so quietly but remains nervous about a bidding war...
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