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"Official: US Airways willing to increase bid for Delta"
Tuesday, December 19, 2006
Official: US Airways willing to increase bid for Delta
The Associated Press
ATLANTA - A source tells The Associated Press that U-S Airways is willing to
increase its eight-point-four (b) billion dollar bid for Delta Air Lines if
Delta can justify that it's worth more.
The source says the airline first needs to see how much Delta values itself
in its reorganization plan -- which could be filed with the bankruptcy court
as early as tomorrow -- and whether any other airline makes a bid for Delta.
The source says Tempe-based U-S Airways is eager to look at Delta's books to
analyze how much it may have to increase the unsolicited offer, which was
first disclosed November 15th.
The head of Delta's pilots union says that as of last week, no other carrier
had offered to buy Delta.
The pilots union is a large creditor in Delta's bankruptcy case and is a
member of the unsecured creditors committee, a key player in determining
whether any merger would go forward.
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