A330323X
Topic Author
Posts: 2666
Joined: Thu Oct 09, 2003 4:06 pm

No Competing Offers Submitted For US Airways

Sat Jul 02, 2005 7:19 am

US AIRWAYS STATEMENT ON EXPIRATION OF 30-DAY PERIOD FOR ALTERNATIVE OFFERS ON PROPOSED MERGER WITH AMERICA WEST

ARLINGTON, Va., July 1, 2005 -- US Airways said today that the 30-day period for alternative offers on its proposed merger with America West Airlines has ended without any competing offers having been submitted. US Airways President and Chief Executive Officer Bruce R. Lakefield issued the following statement:

"In formulating our merger proposal with America West, we took a comprehensive approach built on a robust business plan, a strong balance sheet, an attractive customer proposition, and support from key stakeholders. Over the past ten days, we have made significant progress in laying the groundwork for completing the merger, including antitrust clearance from the Department of Justice, the filing of registration statements with the Securities and Exchange Commission, and the submission of our disclosure statement and Plan of Reorganization with the bankruptcy court. We also remain in discussions with other potential financing partners to provide additional liquidity for the transaction. It would have been difficult for other offers to have provided comparable value to our stakeholders, and with this bidding process now behind us, we will begin planning with America West for the integration of our two companies, which will create an airline that offers numerous benefits for our customers and the communities we serve."
I'm the expert on here on two things, neither of which I care about much anymore.
 
dutchjet
Posts: 7714
Joined: Sat Oct 14, 2000 6:13 am

RE: No Competing Offers Submitted For US Airways

Sat Jul 02, 2005 7:25 am

I do not think that any other offers were expected - so I guess this is yet another step towards the US/HP deal being completed?!
 
scotron11
Posts: 1208
Joined: Tue Feb 10, 2004 4:54 pm

RE: No Competing Offers Submitted For US Airways

Sat Jul 02, 2005 3:47 pm

Well, whatever the outcome, I am happy USAirways will still be around. Unfortunate that they had to enter Chap 11 twice, but they have certainly turned themselves around, in a timely manner, much to the consternation of a lot of folk on these forums!
 
727LOVER
Posts: 6929
Joined: Tue Oct 09, 2001 12:22 am

RE: No Competing Offers Submitted For US Airways

Sat Jul 02, 2005 10:47 pm

Quoting Dutchjet (Reply 1):
I do not think that any other offers were expected

I thought WN might try to bid for PHL assets.
"We must accept finite disappointment, but never lose infinite hope." - Martin Luther King, Jr.
 
ouboy79
Posts: 4114
Joined: Sun Nov 18, 2001 1:48 pm

RE: No Competing Offers Submitted For US Airways

Sun Jul 03, 2005 1:16 am

Quoting 727LOVER (Reply 3):
I thought WN might try to bid for PHL assets.

That was somewhat expected, but appears to have not been the case. Now if they want to expand in PHL they'll have to wait for gates to open up by themselves.

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