Friday, January 26, 2007

Air Trans wants Midwest

Midwest Airlines has sent out this email to its customers:
To Our Customers,

Shareholders and the Communities We Serve:The Board of Directors of Midwest Air Group (AMEX: MEH), parent company of Midwest Airlines, today announced it has unanimously rejected as inadequate AirTran Holdings, Inc.'s (NYSE: AAI) unsolicited exchange offer to acquire all outstanding shares of Midwest for $13.25 per Midwest share and strongly recommends that its shareholders not tender their shares at that price.

The board reached its conclusion after careful consideration, including a thorough review of the AirTran offer with its independent legal and financial advisors. Complete details of the board's position, including related SEC filings, are available from the special page we've set up to share the latest information with our customers.Thank you for your support of Midwest Airlines.To view more information regarding Midwest's response to AirTran, click here:

My note: I wonder if they can hold off, it would be interesting to notice that how much Air Trans is eager to pay above market price to make this merger happens. It also is equally interesting to see who would sell? just a wild guess those who want to gain because of business cycle would be selling however their shares do not constitute a majority of vote to force merging with Air Trans upon Midwest.

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