Will ATA (MatlinPatterson) buy SWA??

[HalinTexas]

First of all, this $5B may have nothing to do with SWA or any other airline. MP invests in all kinds of "failing" businesses. Note: I said failing. SWA is not failing, unless GK has been telling SWA it's failing.

Secondly, there's no reason to change how SWA is run if it's not failing.

This post was to just get a rise out of the mob. It worked.

 

[CF34-3B1]

So does this mean I could bid the L1011?

 

[Lear70]

Well...it can certainly be improved! Look at how US Air improved both Piedmont and PSA

*snicker*

 

[Reebo]

http://yahoo.reuters.com/news/artic...6-26_22-13-59_N26374047&type=comktNews&rpc=44

MatlinPatterson raises new $5 billion fund--source

Tue Jun 26, 2007 6:14pm ET


By Dane Hamilton


NEW YORK, June 26 (Reuters) - "Vulture" firm MatlinPatterson LP is set to close on a new private equity fund of about $5 billion to buy distressed companies, making it one of the largest such funds, a source close to the matter said on Tuesday.
MatlinPatterson, founded by veteran distressed debt specialists David Matlin, Mark Patterson and Lap Chan, originally sought to raise some $3.5 billion for the firm's third fund.
But demand for the fund exceeded supply and it was oversubscribed by $1.5 billion, the source said, reflecting some experts' views there will be many more opportunities to invest profitably in debt-strapped companies over the next few years.

MatlinPatterson seeks to buy controlling stakes in companies in financial straits on a global basis, often by buying publicly traded debt and converting it to equity stakes, either in or out of bankruptcy court.
The firm disclosed on Tuesday that it agreed to sell one of its longest-held investments, chemical maker Huntsman Corp. (HUN.N: Quote, Profile , Research), to Basell (BASL.UL: Quote, Profile , Research), which is owned by privately held U.S. industrial group Access Industries. MatlinPatterson and the founding Huntsman family held 57 percent of Huntsman common stock.
The firm is also considering a major investment into Italian airline Alitalia (AZPIa.MI: Quote, Profile , Research).
MatlinPatterson declined to comment.
The fund-raising comes at a time when many experts in the restructuring advisory business -- lawyers, bankers and consultants -- forecast a rise in the number of corporate bankruptcies. This would provide more opportunities to firms such as MatlinPatterson, W.L. Ross & Co., Cerberus Capital Management and others, commonly know as "vulture" firms because they look to invest in companies facing serious problems.
But the numbers of debt defaults and bankruptcies remained stubbornly low due to wide availability of cash for distressed companies to refinance debt, much of it from hedge fund lenders.
"I don't see any upturn (in Chapter 11 bankruptcies) yet," said UCLA law professor Lynn LoPucki, a noted bankruptcy expert. "It goes on as long as there is a wash of money out there."

Doesn't apply to SWA

 

[HalinTexas]

So does this mean I could bid the L1011?

Probably not.

The DC10 maybe. At World.

 

[FlyinGuy]

If ATA buys SWA (like AWA and US), would we get stapled or DOH???

 

[HalinTexas]

Well, ATA pilots were told that if there ever were a SWA acquisition of ATA that ATA pilots would be stapled a la Morris and Muse. That message was repeated on this board by SWA pilots. What's good for the goose?

The Airtran treatment we would have recieved would have been worse.

However. With the N. Amer./World acquisition(?) many ATA pilots, myself included, want to see one list among the three carriers and DOH with fences is what's being talked about on our private "bitch board." The SWA contract is 95% better than ATA's. So, DOH with a continuation of SWAPA would be fair, and possibly some fences.

Regardless how we would be treated by SWAPA, I think that an individuals experience and qualifications should be considered along with "windfalls" to one group or the other. And if you're a company man or a SW employee you should be thinking of costs to the company should there be a staple, and the intangible costs to company morale if a large segment thinks it got the shaft in a merger.

 

[Whataburger]

?

...The SWA contract is 95% better than ATA's....
quote]

Probably closer to 100%.

 

[HalinTexas]

?

...The SWA contract is 95% better than ATA's....
quote]

Probably closer to 100%.

Humble. Ain't we?

 

[atafan]

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