Delta Pilots: Merger With Northwest May Be Imminent
AP (via Forbes):
Quote:
Sector Snap: Airline Shares Head Higher
Associated Press 01.10.08, 11:27 AM ET
[snip]
Northwest Airlines Corp.'s surge was even more impressive. Its shares added $2.94, or 24.5 percent, to $14.95.
Speculation has been swirling that the Eagan, Minn.-based carrier could be a takeover target for Delta Air Lines Inc. On Wednesday, the head of Delta's pilots union suggested in a letter to members that a deal involving the carrier may be close.
"Consolidation may indeed be at our door," Lee Moak, chairman of the union's executive committee, wrote.
Delta shares rose $1.13, or 8.4 percent, to $14.65.
Re: Delta Pilots: Merger With Northwest May Be Imminent
Its not just NWA they are looking to merge with. Their board is being asked to vote to begin talks with either UAL or NWA. UAL needs this bad or they are going to be back in Chap 11 before you know it.
