Creditors Urge Delta To Take New Offer

Law360, New York (January 12, 2007, 12:00 AM EST) -- The self-named “unofficial” committee of Delta Air Lines creditors has urged the company to strongly consider a new and improved US Airways takeover bid before it expires on February 1.

The faction, comprising 17 creditors who have a $2.25 billion claim on the bankrupt airline, has called on Delta to ignore opposition from other stakeholders and get behind the $10.2 billion offer.

In a written statement the committee said the revised bid represented “a significant premium to the valuation Delta itself places on its stand-alone plan.”...
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