Saturday, May 26, 2018
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AirTran revives effort to buy Midwest Air

MILWAUKEE AirTran Holdings Inc. revived its hostile takeover effort for Midwest Air Group Inc. yesterday, offering $16.25 a share in a cash and stock deal worth $445 million.

AirTran had been courting Midwest for two years and abandoned its hostile takeover effort Sunday night after offering $431 million, or $15.75 per share in cash and stock.

Private investment firm TPG Capital offered $400 million cash just hours later and Midwest s board of directors unanimously chose to pursue that sale.

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