US Airways withdraws DL offer

[WorldTraveler]

US Airways Withdraws Offer for Delta Air Lines
Wednesday January 31, 11:37 am ET


TEMPE, Ariz., Jan. 31 /PRNewswire-FirstCall/ -- US Airways (NYSE: LCC - News) today withdrew its offer to merge with Delta Air Lines Inc. (OTC: DALRQ - News). The airline was informed earlier today that the Official Unsecured Creditors' Committee would not meet its demands by the airline's established deadline of Feb. 1, 2007. As previously announced, US Airways' offer of $5.0 billion in cash and 89.5 million shares of US Airways stock would have expired on Feb. 1, 2007, unless there was affirmative support from the Official Unsecured Creditors' Committee for commencement of due diligence, making the required filings under Hart-Scott-Rodino, as well as the postponement of Delta's hearing on its Disclosure Statement scheduled for Feb. 7, 2007.

 

[Harry Callahan]

KEEP DELTA YOUR DELTA thank goodness

 

[757inthebarrel]

Outstanding news!! Now both companies can get on with their own business.

 

[hula-flyguy]

Wishing all Delta employees the very best of luck with the stand alone plan!

Regards,
Hula

 

[EyeInTheSky]

Hey, it was fun while it lasted. Good luck to all!

Later,
Eye

 

[WorldTraveler]

hey coach, that's not what you were saying a month ago.

Sore loser are we?

 

[BoeingBoy]

hey coach, that's not what you were saying a month ago.

Sore loser are we?

I think you may be misinterpreting coachrowsy's comment. He has been pretty consistently saying that Parker should concentrate on running the airline he has instead of trying to chase another merger.

I think the "thank goodness" is a sigh of relief that this is over and not a slam at DL in any way.

Jim

 

[USCREW]

hey coach, that's not what you were saying a month ago.

Sore loser are we?

The drama continues...
But hey WT, you can get off your meds now. All is kosher.

 

[flyhigh]

Sad news...now the industry can continue to languish in poor margins, poor long term results, significant overcapacity...we'll likely see the lagacies back in this same boat in the next downturn. What then...more paycuts, benefit cuts, and so on.

It would be nice to see this business treated more like the unregulated industry it is as opposed to a local jobs program for every Chuck Schummer in Congress.

 

[luv2fly]

To all the employees of US: good luck.
To Doug Parker: AMF.
To Ralph Cramden: Crawl back in your hole biotch. Due diligence and fragementation my a$$.

 

[WorldTraveler]

I would hope you are right, Jim, because you usually are.

The hardest part of this whole US/DL affair is that there are good people caught in the crossfire on either side.

Mergers are hard enough. Let's come up with consolidation between players that WANT to merge.

I take no meds and don't need any.

Now that everyone's two year fascination with seeing DL die is about over, maybe the world (at least on this board) will be a little more rational.

DL and NW will finish this cycle of industry restructuring as they emerge on their own. It is up to each airline to compete on its own merits.

May the best carriers win - and it won't be six network carriers for ever.

 

[Fly]

Two month absence WT?!? Amazing how your departure followed the hostile bid. If DL starts to get chewed apart in a future date, can we trust that you will run and hide into the corner again?

(I'm awaiting your novel)

 

[whatkindoffreshhell]

Two month absence WT?!? Amazing how your departure followed the hostile bid. If DL starts to get chewed apart in a future date, can we trust that you will run and hide into the corner again?

(I'm awaiting your novel)

WT wasn't gone, he was just posting under another name.

Amazing coincidence he should resurface today of all days!

No matter, DL is history anyway. Blood in the water, non-unionized, bankruptcy woes....

Does anyone seriously think the bankers/lawyers are going to walk away from this deal-making opportunity?

Next in line for WT & DL -- say hello to the Tilton gang!

 

[rsv4ever]

nice chatting these past few months with all of you- lol- good luck guys-

 

[Bulscu]

hey coach, that's not what you were saying a month ago.

Sore loser are we?

...remember that you said this, it'll help you with personal growth, very, very sooooon.

good luck to all!