Monday, August 13, 2007

AirTran Loses

AirTran's hostile takeover of Midwest Airlines has failed.



Midwest Airlines won't be swallowed up by a "worst care in the air" operation.

From 620 WTMJ:

Midwest Airlines will get a new owner, but not AirTran Airways.

Air Tran Airways has announced that it will let its tender offer for the airline expire today amid news that Midwest has agreed to a sale to a private equity firm that includes Northwest Airlines.

TPG Capital, a private equity firm, made a cash offer of $16/share, and that's what the Board of Directors decided to go with.

"That means that Midwest Airlines will remain Midwest Airlines, with its corporate headquarters in Milwaukee," said Midwest Airlines Senior Vice President of Corporate Affairs Carol Skornicka in an exclusive interview with Newsradio 620 WTMJ's Wisconsin's Morning News.

"We don't really expect to see any changes that the customer would experience."

That includes the cookies!

2 comments:

Anonymous said...

We didn't believe AirTran when they made that statement, but now we believe TPG/Northwest/et al?

Mary said...

What statement?