US Airways Proposes Takeover Bid Of Delta Air Lines

Law360, New York (November 15, 2006, 12:00 AM EST) -- Despite possible antitrust problems and a snub by Delta Air Lines Inc. earlier this year, US Airways Group Inc. CEO Doug Parker has decided to give merger talks another try, this time going around management and appealing directly to the company’s creditors with a $8 billion buyout offer.

Parker has offered creditors a “significant premium” of $4 billion in cash and 78.5 million shares of US Airways stock, according to a Delta filing with the Securities and Exchange Commission.

Parker, who managed the merger between America...
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