Report: American Air Takeover Target
February 16, 2007
American Airlines parent AMR Corp. is a possible buyout target by Goldman Sachs Group Inc. and British Airways PLC, a published report said Friday.
BusinessWeek said the investment group proposed buying AMR of Fort Worth, Texas, for between $9.8 billion and $11.1 billion, or $46 to $52 per share.
It is uncertain that a bid will lead to a deal, BusinessWeek said.
AMR declined to comment. Goldman Sachs was not immediately available for comment. A British Airways spokesman the company does not comment on rumor or speculation.
AMR shares rose 4 percent in mid-morning trading on the New York Stock Exchange after closing at $38.05 Thursday.