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US Airways Makes $8 billion Cash and Stock Offer for Delta

ATLANTA (AP) - US Airways made a hostile 8 billion dollar cash and stock bid for Delta Air Lines Wednesday.

The deal would create one of the world's largest carrier. The offer came despite Delta's repeated statements that it is NOT interested in a merger.

Delta's chief executive -- Gerald Grinstein issued a statement saying the Atlanta-based carrier will review US Airways' proposal. But he says Delta will push ahead with its goal to file its reorganization plan by February 15th and to emerge from bankruptcy next year as what he calls -- quote -- "a strong, standalone carrier."

The deal with U-S Airways would be subject to regulatory, creditor, US Airways shareholder and court approval.

(Copyright 2006 by The Associated Press. All Rights Reserved.)


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