Delta Air Lines has rejected US Airways' $8.4 billion hostile bid in favor of a plan to re-emerge from bankruptcy as a standalone company. CNBC's Phil LeBeau says Delta focused today on convincing creditors their plan is best for them.
Delta Air Lines is forecasting a return to profitability next year, and again rejecting U.S. Airways' hostile overtures. The company's top executives have been hosting a webcast this morning--and CNBC’s Phi LeBeau has been monitoring details as they unfold...
Delta Air Lines, working to beat back an $8.4 billion merger bid from US Airways Group, is expected as soon as Tuesday to file a sweeping bankruptcy reorganization plan, the Wall Street Journal said on its Web site, citing people familiar with the matter.
The airline industry has seen a wave of potential M&A activity of late. Reports say UAL, the parent of United Airlines, and Continental Airlines are talking merger – though analysts speculate a deal is still far off. Also, AirTran Holdings has made a hostile bid for Midwest Air Group worth $290 million, or $11.25 a share. All this comes just a month after US Airways Group made a hostile bid of its own for Delta Air Lines.
U.S. stocks are taxiing towards a slightly higher opening today as airline takeover activity is set to give the transports a lift. Retail sales data for November could also give the market some direction and provide further clues to the consumer this holiday season. MERGERS AT THE GATE: Our Phil Lebeau is reporting on takeover talks...
U.S. stocks are showing hesitancy ahead of today's Fed announcement with futures pointing to a lower opening. Japanese stocks were higher overnight and European stocks trade lower after initial strength. The U.S. dollar was weaker ahead of the Fed overnight, as the yen slid to a record low against the Euro.
Good morning--it's December 1, 2006--24 days until Christmas--and counting. We're having a busy day so far. U.S. Representative Harold Ford Jr. from Tennessee is guest host on "Squawk Box." He lost that closeU.S. Senate seat race last month to Repbublican Bob Corker.