Midwest Airlines (MEH) scored a minor victory in fighting off AirTran’s (AAI) $345 million bid. A New York judge ruled Midwest didn’t have to hand over a list of shareholder names to AirTran. In the spin Midwest sees it as Wisconsin corporate law taking precedence while AirTran yelped about “full disclosure.”
It won’t matter how many names AirTran gets. If they don’t up their offer from $13.25/share there will be no deal. Midwest closed yesterday at $13.80/share.