Parker is getting desperate. How much debt would this be for the new entity? His stock is tanking, he's getting no love from the official committee of unsecured creditors or the Senate and now he's trying to sweeten the deal as the deadline approaches. My bet is after Feb 1st, Doogie will extend his deadline.
PHILADELPHIA, Jan 28 (Reuters) - US Airways Group Inc. (LCC.N: Quote, Profile , Research) may raise its hostile takeover offer for Delta Air Lines Inc. (DALRQ.PK: Quote, Profile , Research) by $1 billion under certain conditions to win support from Delta creditors, according to a report in the electronic edition of The Wall Street Journal.
Citing people familiar with the matter, the newspaper said US Airways would raise its offer to about $10.8 billion if the official committee of creditors demanded that Delta open itself to due diligence by US Airways.
The committee also would have to ask a bankruptcy judge to postpone a hearing next week on Delta's restructuring plan and agree to support the start of a formal antitrust review, according to the report.
US Airways and Delta could not be immediately reached for comment.
PHILADELPHIA, Jan 28 (Reuters) - US Airways Group Inc. (LCC.N: Quote, Profile , Research) may raise its hostile takeover offer for Delta Air Lines Inc. (DALRQ.PK: Quote, Profile , Research) by $1 billion under certain conditions to win support from Delta creditors, according to a report in the electronic edition of The Wall Street Journal.
Citing people familiar with the matter, the newspaper said US Airways would raise its offer to about $10.8 billion if the official committee of creditors demanded that Delta open itself to due diligence by US Airways.
The committee also would have to ask a bankruptcy judge to postpone a hearing next week on Delta's restructuring plan and agree to support the start of a formal antitrust review, according to the report.
US Airways and Delta could not be immediately reached for comment.
