Midwest stands pat, rebuffs AirTran; Suitor won't raise bid, leaves it up to shareholders

The Milwaukee Journal Sentinel | April 14, 2007| | Copyright

The battle continues.

With the board of Midwest Air Group Inc. on Friday rejecting the latest takeover offer from unwanted suitor AirTran Holdings, Midwest's future now rests with its shareholders.

An AirTran spokesman said the discount carrier from Orlando, Fla., won't increase its offer for Oak Creek-based Midwest, leaving it up to stockholders to decide who will deliver the most value.

For hedge funds and others who have bought Midwest shares since the Florida company started its campaign in December, the answer is likely AirTran.

But Midwest's management is standing firm in its contention ...

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