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US Airways Secures Another Backer For Delta Bid

Law360 (January 8, 2007, 12:00 AM EST) -- US Airways Group Inc. has upped the ante in its hostile takeover bid for bankrupt Delta Air Lines Inc., announcing Monday that Morgan Stanley will join Citigroup as a lead financial backer of the proposed merger.

As it stands now, Morgan Stanley and Citigroup will underwrite the $7.2 billion in debt financing that US Airways needs to put its plan into action. However, US Airways also said it retains the right to add even more banks to the group, raising the possibility that it will increase...
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