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Mesaba Shareholders Attack Northwest Offer

Law360 (January 9, 2007, 12:00 AM EST) -- Two shareholders of Mesaba Airlines’ parent company have blasted Northwest’s proposal to buy the bankrupt carrier, contending that the deal significantly underestimates Mesaba’s true value.

On Monday, Riley Investment Partners and Thales Fund Management revealed their feelings about the proposed Northwest sale in their objection to the unsecured creditors committee’s bid to file a reorganization plan on behalf of Mesaba.

Bankrupt Northwest revealed last week that it had reached a deal with the beleaguered carrier in which it would pay Mesaba's estate $145 million and provide...
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