Delta Bondholders Rally For Takeover Support

Law360 (November 22, 2006, 12:00 AM EST) -- Some of Delta Airline Inc.’s bondholders are in the early stages of organizing an informal group to support US Airways Group Inc.’s $8 billion takeover bid for the bankrupt airline.

During conference calls on Tuesday, two of Delta’s creditors, Deutsche Bank AG and Lehman Brothers Holdings Inc., urged bondholders to unite and pressure Delta to consider US Airways’ offer, the Wall Street Journal reported Wednesday.

Deutsche and Lehman are attempting to create a second group of creditors to add input to Delta’s restructuring plan, the WSJ...
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