Delta To Fight US Airways Bid With New Plan

Law360, New York (December 18, 2006, 12:00 AM EST) -- Facing US Airways Group Inc.’s $8.4 billion hostile takeover bid, Delta Air Lines Inc. is set to unveil a reorganization plan that will put the embattled carrier’s worth at $10 billion to $12 billion, sources say.

Delta hopes to woo creditors into accepting the plan, which is expected to be filed as early as Tuesday, the Wall Street Journal reported, citing people familiar with the matter.

Delta will have to convince creditors that a stand-alone carrier with an estimated market value of $10 billion to $12...
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