Message Font: Serif | Sans-Serif
No. of Recommendations: 0
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.

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


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.