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Delta cool on improved US Airways offer
Thursday, 11 Jan, 2007
0
US Airways’ hostile bid for rival Delta Air Lines has been stepped up with an improved offer of $10.2 billion.
This is a 20% rise on the initial offer by US Airways and includes an extra $1 billion in cash.
Delta, which wants to emerge from Chapter 11 bankruptcy protection this year as an independent carrier, said it would review the fresh offer but said it did not address many concerns raised at the time of the first $8.5 billion bid made in November.
Report by Phil Davies
Phil Davies
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