Cedar Rapids, Iowa News, Sports, and Weather
Midwest Air to Consider Buyout Offers
MILWAUKEE (AP) - Midwest Air Group says it will consider a new
offer by rival AirTran Holdings Inc.
On Tuesday, the operator of low-cost AirTran Airways put in a $16.25 per share bid for the Milwaukee-based operator of Midwest Airlines. That makes the deal worth about 445 million dollars.
The offer comes as Midwest prepares to make official a deal to sell to TPG Capital, a private investment group that includes Northwest Airlines.
TPG made a $16 per share offer on Sunday to buy Midwest. Midwest
has said it expected to reach a final deal with the company Wednesday.
But AirTran has been courting Midwest for two years and president Bob Fornaro says today it wants to see the deal through.