AirTran Extending Offer in Midwest Deal
May 17, 2007
AirTran said it is extending its latest tender offer of $15 a share of Midwest Air Group until June 8 despite Midwest board disapproval.
AirTran, an Orlando, Fla.-based airline, is offering a $389 million cash-and-stock deal that reportedly has solid shareholder support despite the board’s call for rejection.
AirTran said holders of nearly 57 percent of the Midwest shares have agreed to its offer, bizjournals.com said.