|
|
Category:
Press » Travel & Leisure
|
|
Delta Air Lines Creditor Group Urges Company to Take Steps to Respond to Increased US Airways' Offer
|
Popularity: 
Views: 1793
|
|
2007-01-10 21:44:14
|
 |
Paul, Weiss, Rifkind, Wharton & Garrison LLP
|
 |
|
In response to today's announcement by US Airways Group, Inc. of its revised offer to purchase Delta Air Lines, Inc. the Unofficial Committee of Unsecured Claimholders of Delta Air Lines, Inc. called upon the company to provide thoughtful and unbiased consideration to US Airways' enhanced offer.
The Unofficial Committee believes that it is in the best interests of Delta and its stakeholders for Delta to immediately take the following steps:
1. Provide reasonable and customary access for US Airways to perform its due diligence in a manner consistent with similar transactions.
2. Fully cooperate with US Airways to make the required filings under HSR.
3. Postpone Delta's Disclosure Statement hearing currently scheduled for February 7, 2007 to allow Delta to fully evaluate US Airways' proposal.
4. Include the active participation and input of the Unofficial Committee's advisors with respect to the US Airways' proposal and other strategic alternatives.
5. Desist from taking actions intended to deter other companies from proposing transactions with Delta that may result in greater creditor
recoveries than under a stand-alone Chapter 11 plan.
On its face, the revised offer by US Airways represents a substantial increase from its prior bid, and, more importantly, represents a significant premium to the valuation Delta itself places on its stand-alone plan. The increased US Airways' offer merits Delta's careful attention at this time in keeping with the board's fiduciary duty to maximize value for Delta's stakeholders, including members of the Unofficial Committee.
Only after Delta adequately considers the revised US Airways' proposal and any other strategic alternative that may present itself, will the members of the Unofficial Committee be in a position to determine whether to support Delta's stand-alone reorganization plan.
The Unofficial Committee's financial advisor is Jefferies & Company, Inc., and its legal counsel is Paul, Weiss, Rifkind, Wharton & Garrison LLP.
|
| Specialized in: |
Rifkind
-
Garrison Llp
-
Wharton
-
Weiss
-
Paul
|
|
|
Related Press releases |
|
RV Dallas - Renting an RV for Spring Break (Popularity: ): PROSPER, Texas - February 13, 2020 -- RV Dallas - Renting an RV for Spring BreakWith Spring Break right around the corner, we have your family covered here at RV Dallas. Our massive selection of RVs and travel trailers can give you the perfect mobile travel options to make your trip simple, fun, adventurous and cost-effective.Forget booking expensive hotels that cram your whole family in questionably-cleaned rooms. Don’t worry about ...
Vietnam Immigration Service Explains the Whole Mechanism of Vietnam Visa Exemption (Popularity: ): Ho Chi Minh (press.abc-directory.com) December 10, 2018 - As a general rule of thumb, travelers entering Vietnam needs passports or valid passport-substitute papers, or Vietnam visa on arrival and an entry visa by the Vietnam immigration authorities to enter into Vietnam. But, visa exemption is available for certain foreign nationals entering and staying in Vietnam for a certain period of time without any visa procedures or pay fees related to ...
Vietnam Officially Launches Vietnam Electronic Visa for the Citizens of Argentina (Popularity: ): district 1, Ho Chi Minh city (press.abc-directory.com) July 26, 2017 - Great news for Argentines, who were worrying about the complex process involved in Vietnam visa application. The government of Vietnam has just officially launched a two-year pilot plan for electronic Vietnam visa for argentine.Now, Argentine passport holders have become eligible for e-visa application which permits entry into and travel within Vietnam. Vietnam Electronic Visa is a better alternative to ...
DK Eyewitness Travel Names 20 Best U.S. Cities for Making a Fresh Start (Popularity: ): New York, NY - April 20, 2017 -- DK Eyewitness Travel today released a list of the 20 Best U.S. Cities for Making a Fresh Start. Chosen by DK’s in-house travel experts, these cities range from college towns boasting high-salary jobs to unassuming suburbs that are just right for raising a family. For those eager to make a fresh start in 2017, these cities and towns deserve due consideration.In culling ...
Launching Hotels on Hourly basis with Frotels Pvt. Ltd. (Popularity: ): Frotels introduces a one stop flexible solution for hotel booking system to help travelers to save on their hotel accommodation expenses while travelling anywhere across India.Mumbai, India, December 23, 2016 -- A breakthrough in the travel and tourism sector, wherein travelers can opt for easy hotel bookings on hourly basis rather than conventional way of booking the hotels & paying for the whole day.Some of its key features are:-
* Affordability ...
|
|
Related Business |
|
Book Jet Airways Flight Tickets Online (Popularity: ): Fly with Jet Airways, the top Indian airline. They offer cheap flights & air tickets to popular destinations in India and Internationally. Book online.
British Airways Flying Club (Popularity: ): Private pilot training using British Airways' facilities at Wycombe Air Park (Booker), Buckinghamshire.
Hitachi Air Technology Group Products (Popularity: ): Hitachi Air Technology Group manufactures advanced range of oil free air compressors and vortex blowers that offer value in terms of purity of air, power and space savings, and maximized efficiency. View the entire series of Air Technology Group products.
Account Receivables (Popularity: ): The company has an intense awareness of account receivables, and your need to recover past due debts. Available to any kind of creditor, we extend our customized account receivable services at all times. With years of experience, we have been successful in converting receivables into profits. Our debt recovery methods are diplomatic and systematic, so much that they are completed without any disturbance to the debtor-creditor relationship. We offer the ...
Guardian Group (Popularity: ): Guardian Group are a Stirling based company, in Central Scotland formed in 1994. The company started trading as Guardian Systems manufacturing premier uPVC windows, doors and conservatories for the trade and domestic customers. Aluminium, Timber and Hybrid profiles have increased in popularity and by investing in new machinery Guardian Systems are at the forefront of these new materials. This allows our customers to have an increased choice as well as ...
Delta Corporation (Popularity: ): Delta Corporation which is formed by professionally qualified engineers and technicians. We would like to introduce ourselves as one of the authorized preferred sales & service dealers of Hitachi. We serve Hitachi and all other major brands and models. We offer expert air conditioning repair services and cooling equipment options for every need. Making your home and office cool and comfortable is what we do. Our quality air conditioning repair ...
SeatGuru (Popularity: ): Guide to United, American, Delta, Continental, Northwest and US Airways airlines passenger seating.
South African Airways Museum Society (Popularity: ): A struggling group with civil aircraft located both at Johannesburg International Airport and at Swartkop Air Force Base near Pretoria.
TC Ultra Company (Popularity: ): Innovative delta shaped sport kite designed by T.C. Powers to fly with 2 or 4 lines.
Baymont Inn & Suites Worldwide Inc. (Popularity: ): Just as anyone would want, the Baymont Hotel Bellingham will offer you the serenity of life. Enjoy the breeze of the air that surrounds the place. It will serve you greatly in this since it won’t give you a hassle of what a polluted area can bring. Despite this serenity, the place will also offer you the other nearby recreational places. You may do some recreations after you relax yourself ...
|
|
|
|
Print press release
Bookmark this page