U.S. News

Delta Board Discusses US Airways Bid: Paper


The board of Delta Air Lines met by conference call to discuss US Airways Group's $8.5 billion hostile bid, but the directors are not expected to issue a formal position on the offer for several days, the Wall Street Journal reported on its Web site on Tuesday, citing people familiar with the matter.

The meeting came as executives at Delta and its major creditors prepared for a new round of talks regarding the US Airways' bid scheduled for tomorrow in New York, the paper said.

US Airways made an unsolicited bid to acquire its bankrupt rival, the No. 3 U.S. carrier, for about $8.9 billion last month. Delta has said a number of times that it intends to emerge from bankruptcy as a stand-alone carrier.