Max Powers
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Richard "macgiver" Anderson now talking to United after lying to Senate sub-committee
Merger talk flies around Delta
By Russell Grantham
The Atlanta Journal-Constitution
Published on: 11/15/07
Like a wild day on Wall Street, the fate of one of Atlanta's biggest employers appeared to change by the minute Wednesday.
Meanwhile, Dow Jones reported that United and Delta have been discussing a combination that would keep the United name on the merged carrier with a corporate headquarters in Chicago. The Associated Press, citing an unnamed source, said the carriers have been in talks for some time, including in the last week or so, and hope to reach a deal soon so that federal regulators can consider it before a new administration enters the White House. Delta's shares rose 4 percent to $19.52 and United's shares rose 1.5 percent to $44.17, after both rose about 6 percent in afternoon trading.
Delta vigorously fought off a $10 billion takeover offer from US Airways earlier this year as it was headed into the late stages of its 19-month-long restructuring in Chapter 11. A massive grass-roots campaign in which employees rallied and wore buttons with the slogan "Keep Delta Our Delta" at work and to a congressional hearing helped Delta outmanuever US Airways.
Still, Delta's stock has declined significantly since it emerged from Chapter 11 last spring and never matched the market value the airlines' management projected for its plan to remain independent rather than merging with US Airways, angering creditors who favored a merger.
Staff writer Jim Tharpe contributed to this article.
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Merger talk flies around Delta
By Russell Grantham
The Atlanta Journal-Constitution
Published on: 11/15/07
Like a wild day on Wall Street, the fate of one of Atlanta's biggest employers appeared to change by the minute Wednesday.
Meanwhile, Dow Jones reported that United and Delta have been discussing a combination that would keep the United name on the merged carrier with a corporate headquarters in Chicago. The Associated Press, citing an unnamed source, said the carriers have been in talks for some time, including in the last week or so, and hope to reach a deal soon so that federal regulators can consider it before a new administration enters the White House. Delta's shares rose 4 percent to $19.52 and United's shares rose 1.5 percent to $44.17, after both rose about 6 percent in afternoon trading.
Delta vigorously fought off a $10 billion takeover offer from US Airways earlier this year as it was headed into the late stages of its 19-month-long restructuring in Chapter 11. A massive grass-roots campaign in which employees rallied and wore buttons with the slogan "Keep Delta Our Delta" at work and to a congressional hearing helped Delta outmanuever US Airways.
Still, Delta's stock has declined significantly since it emerged from Chapter 11 last spring and never matched the market value the airlines' management projected for its plan to remain independent rather than merging with US Airways, angering creditors who favored a merger.
Staff writer Jim Tharpe contributed to this article.
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