USAir Rejects Bid From TWA
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WASHINGTON — USAir Group Inc. today rejected a takeover attempt by Trans World Airlines, saying the bid was “nothing more than an attempt . . . to disrupt” USAir’s offer to purchase Piedmont Aviation Inc.
USAir spokesman David Shipley said in a strongly worded statement that the airline would proceed with its attempt to purchase Piedmont despite the offer by TWA Chairman Carl Icahn on Wednesday to buy USAir for $52 a share in cash, or $1.6 billion. Also today, the Department of Transportation gave final approval of USAir Group’s proposed $400-million purchase of Pacific Southwest Airlines.
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