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A Phantom Bid for American Airlines?

American Airlines is confounded by a bid from Sterling Global Holdings to take the airline private in a $9.75 a-share, roughly $3.25 billion.

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Source: Google Maps

The issue? So far there doesn't appear to be anyone that has heard of Sterling despite its letterhead saying it has several offices around the globe.

When CNBC contacted Allen Weintaub, the general manager of Sterling Global Holdings, who made the $3.25 billion offer, replied in an email saying: "I appreciate your offer for a live interview today, but I am tied up in meetings all day until 8pm. - AW"

In addition to American Airlines , Sterling Global also launched a bid for Eastman Kodak a couple of weeks ago—shares are higher for both stocks.

The history of Wall Street takeovers is not without its dubious rumors and chatter.

Back in 1987 there was a bogus takeover offer made on behalf of "Stone Inc" to Dayton Hudson Corporation that caused the stock to spike up $9 a share, which ultimately caused a $15 million loss for investors.


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