US Airways launches bold takeover bid for troubled American Airlines
21 April 2012US Airways launched an aggressive takeover bid for its larger rival American Airlines on Friday.
The bold move would lift troubled American out of bankruptcy and create a contender for the title of the largest airline in the U.S.
But the deal – which is resisted by American’s management – could also complicate the company’s already messy bankruptcy reorganisation.
US Airways went behind the larger company’s back and secured the support of American’s three labour unions in its bid to force a merger.
source: Dailymail.co.uk
