If US Airways Group CEO Doug Parker wants his plan to buy Delta Air Lines to succeed, he's going to have to convince the likes of Boeing, the Coca-Cola Co. and IBM that it's a good idea. Parker on Wednesday made public a letter he sent to Delta CEO Gerald Grinstein that included an $8 billion buy offer. Grinstein wasn't interested in Parker's previous offer and didn't seem interested in this one. But if Parker can get Delta's unsecured creditors interested, Grinstein might have a harder time refusing.
November 17, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
If US Airways Group CEO Doug Parker wants his plan to buy Delta Air Lines Inc. to succeed, he’s going to have to convince the likes of Boeing Co., the Coca-Cola Co. and IBM that it’s a good idea.
Parker on Wednesday made public a letter he sent to Delta CEO Gerald Grinstein, in which he offered to buy the Atlanta airline for $8 billion after Delta exits bankruptcy protection. It’s Parker’s second offer for Delta; the first time, Grinstein wasn’t interested.
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