A little good news for Delta folks

[geardown]

Creditors may cool on US Airways' Delta bid -WSJ

http://yahoo.reuters.com/news/artic...1-23_02-55-12_N22188850&type=comktNews&rpc=44

 

[FDJ2]

Reuters
Creditors may cool on US Airways' Delta bid, report says
Monday January 22, 10:04 pm ET

NEW YORK (Reuters) - US Airways Group Inc.'s (NYSE:LCC - News) hostile $10.1-billion bid for Delta Air Lines (Other OTC:DALRQ.PK - News) may be losing appeal among creditors who will determine the Atlanta airline's fate, The Wall Street Journal reported on Tuesday, citing people familiar with the deal.


Delta's creditor committee has grown skeptical of the proposed merger after digging into details of US Airways' offer, the sources told the Journal.

Representatives of the committee and Delta have been trying to iron out issues related to the airline's hope to leave bankruptcy. How the Delta board will be selected, senior management's compensation and how to compensate non-union Delta employees are among the issues, the newspaper said.
In a reorganization plan filed on Friday, Delta gave creditors a larger say in its future. It said it would soon present its analysis of US Airways' takeover bid to its board.

 

[grog_sit_reserv]

The General would've posted this but he was too busy cleanin' his shorts after he read this.

 

[General Lee]

The General would've posted this but he was too busy cleanin' his shorts after he read this.

Front side, not back.....


Bye Bye--General Lee

 

[grog_sit_reserv]

Hah! General, you're a pain, but you're funny...

 

[Fly4hire]

Delta and Northwest Airlines Corp. senior management recently held several meetings to explore a possible combination after Delta creditors pushed the airline to explore all merger options, according to people familiar with the matter. A combination of Delta and Northwest "is a very viable option," according to one of those people, but is likely to be pursued only after both airlines emerge from bankruptcy protection this year. Delta intends to leave Chapter 11 proceedings in April and has made its own proposal to
creditors to emerge as a stand-alone company. Northwest hopes to emerge from bankruptcy-court protection in the second quarter.

The discussions between Delta and Northwest were "detailed, specific
conversations" about potential structures, processes and timetables for a
transaction, said a person knowledgeable about the matter. However, those
talks have concluded without a framework for a deal and without specific
plans for further negotiations, according to people familiar with the
thinking of both sides.

Sounds to me like NWA/DAL is still very much in play depending on further industry consolidation.