Company Watch - AirTran Airways.Mar 12, 2007 AirTran Holdings AirTran Holdings (NYSE: AAI) is a Nevada corporation that operates as an airline holding company. Its primary asset is AirTran Airways. History After the large amount of negative publicity surrounding the Flight 592 incident, ValuJet Airlines suffered serious extended the deadline on its offer to Midwest Air Group Midwest Air Group, Inc. AMEX: MEH is an airline holding company based in Oak Creek, Wisconsin now controlled by parent company, TPG Capital Texas Pacific Group. Northwest Airlines Inc,. shareholders in hopes the two sides will reach a deal. The $345 million stock and cash exchange offer was due to expire yesterday but was pushed back to April 11. Meanwhile, AirTran continues its campaign to win over Midwest shareholders and has nominated three candidates for Midwest's board, none of whom are connected to either airline but who have experience in "corporate business issues," Senior VP, General Counsel and Secretary Richard Magurno said. "I think we will have a good chance of ousting oust tr.v. oust·ed, oust·ing, ousts 1. To eject from a position or place; force out: "the American Revolution, which ousted the English" Virginia S. Eifert. the elected board," he said. Midwest has not set a date for the next board meeting. Thus far, 1.7 million of Midwest's 24.1 million outstanding shares have been tendered, Magurno said, adding, "I think Midwest was surprised about the number of shares that have been tendered." Mar 9, 2007 AirTran offer gets weak response from Midwest shareholders Midwest Air Group shareholders have tendered just 7.3% of the airline's shares to AirTran Airways AirTran Airways is a low-cost airline that is a Delaware corporation with headquarters in Orlando, Florida, USA and is a subsidiary of AirTran Holdings. AirTran operates over 750 daily flights throughout the eastern USA and the Midwest, including over 270 daily departures from , based on 24.4 million shares outstanding, a Midwest executive said Thursday. Shareholders were initially thought to have tendered 9.6% of shares, based on outstanding shares of 18.6 million. Midwest executives have urged shareholders to reject AirTran's offer to buy the company. Milwaukee Journal Sentinel The Milwaukee Journal Sentinel is a daily morning broadsheet printed in Milwaukee, Wisconsin, USA. It is the primary newspaper in Milwaukee, the largest newspaper in Wisconsin and is distributed widely throughout the state. . Mar 9, 2007 AirTran extends deadline for Midwest buyout offer AirTran Airways has pushed back the deadline for its offer to purchase Midwest Airlines
Midwest Airlines is an American scheduled passenger airline based in Milwaukee, Wisconsin, operating from General Mitchell International Airport. until April 11. AirTran said it postponed the deadline to make sure all Midwest shareholders have time to make an informed decision. The board of Midwest has called AirTran's offer inadequate and has urged shareholders to reject it. Mar 8, 2007 AirTran Extends Midwest Takeover Deadline AirTran Holdings, the parent of AirTran Airways, on Wednesday extended the deadline for a second time for shareholders of Midwest Air Group to accept its hostile takeover Hostile Takeover A takeover attempt that is strongly resisted by the target firm. Notes: Hostile takeovers are usually bad news, as the employee moral of the target firm can quickly turn to animosity against the acquiring firm. bid. Mar 8, 2007 AirTran also submitted preliminary proxy materials Proxy Materials Documents regulated by the Securities & Exchange Commission in which a public company outlines its methods and procedures. These documents are used to inform shareholders and solicit votes for corporate decisions, such as the election of directors and other to the US Securities and Exchange Commission nominating three directors to the Midwest board and urging Midwest hold a shareholder meeting to elect them. Milwaukee-based Midwest has resisted the proposal and on Wednesday had a powerful hometown politician come to its aid in Congress. Mar 8, 2007 Last month, the Justice Department closed its mandatory review of the AirTran Airways-Midwest takeover bid's potential impact on competition without challenging it. But Kohl said the review was cursory and raised questions about service quality if the deal went through. Mar 8, 2007 03/12/2007 Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Copyright [c] 2007 Air Travel Media / Pyramid Media Group. All rights reserved. Mar 5, 2007 |
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