Airlines 01 Feb 2007 07:30 am
AirTran (AAI) will extend its $345 million offer for Midwest Airlines (MEH) for another month until March 8. That could mean the low-cost airline has some takers for the deal but needs more time to get a majority. What they didn’t do is up their offer which would be hard since AirTran’s stock has gone down in the last month.
AirTran also announced Jeffrey Erickson, Charles Kalmbach and John Albertine will be nominated to Midwest’s board of directors.
UPDATE: Midwest comments on AirTran’s slate of directors:
Midwest believes that AirTran has nominated this slate to allow AirTran’s representatives, if elected, to push for a sale of Midwest to AirTran, which would deny Midwest’s shareholders the opportunity to benefit from our strategic plan.
Duh? Why else would AirTran offer up those specific people?