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Day -1 For US/DL Merger?

Thu Feb 01, 2007 1:28 am

Tomorrow might be an important turning point of US civil aviation. DL will have te decide or not to merge with US.

Please keep this thread as a merger thread and not about themes that have nothing to do as it was for the one I started previously !

[Edited 2007-01-31 17:29:03]
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RE: Day -1 For US/DL Merger?

Thu Feb 01, 2007 1:38 am

Quoting RootsAir (Thread starter):
Tomorrow might be an important turning point of US civil aviation. DL will have to decide or not to merge with US.

It's looking more and more as if it isn't going to happen. DL is just as resistant as ever, and it appears increasingly as if their major creditors are backing them up to go it alone as well.

Quoting Marilyn Adams, USAToday:
Showing frustration, US Airways CEO Douglas Parker said Tuesday that his company will drop its bid for Delta Air Lines on Thursday if bankruptcy creditors don't signal support for the $10 billion offer.
Delta's creditors "know exactly what they have to do," Parker said in a conference call on quarterly earnings. "If this (creditors) committee is not willing to do what it should do for investors ... we're not willing to pursue this transaction anymore."
Although Parker had earlier placed a Feb. 1 deadline on his offer, his comments suggested for the first time that US Airways (LCC) may be poised to walk away from the deal it proposed in mid-November and sweetened earlier this month.
Parker's comments followed days of frantic maneuvering by people on all sides of the controversial bid. US Airways' cash-and-stock offer for Delta, which has been in Chapter 11 reorganization since September 2005, has been rejected by Delta's management. Delta has lobbied its creditors to accept Delta's own plan to emerge as a stand-alone carrier. A merger would create the country's biggest domestic carrier.
Parker sweetened the offer for Delta by 20% three weeks ago, and the court-approved committee representing Delta's creditors hasn't responded. The committee could act today. Parker wants the creditors to force Atlanta-based Delta to open its books and postpone a bankruptcy court hearing scheduled for next Wednesday on Delta's stand-alone plan.

Doug Parker sounds VERY frustrated, and I think he is starting to concede he made a gross miscalculation, and perhaps should have gone after NW.
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RE: Day -1 For US/DL Merger?

Thu Feb 01, 2007 1:45 am

Quoting RootsAir (Thread starter):
Tomorrow might be an important turning point of US civil aviation

Or it might not be.....
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RE: Day -1 For US/DL Merger?

Thu Feb 01, 2007 5:07 am

DL creditors committee threw their support behind DL team, hence, rejecting any mergers. Soon after Doug Parker withdrew the merger offer.

So it is back to DL on its own or with a partner that is made under friendly terms. NW, where are you? You two will match together pretty good!!!

Let's see what is next for both, and also US...
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RE: Day -1 For US/DL Merger?

Thu Feb 01, 2007 5:11 am

Since US has withdrawn their offer for DL what exactly is the point of this thread? No offense to the OP but I suggest delete since it is no longer relevent.
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RE: Day -1 For US/DL Merger?

Thu Feb 01, 2007 6:40 am

Since the merger is a no-go, this thread is now locked.

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