Rejuvenated
Feb 18, 07, 8:51 pm
February 18, 2007
British Airways and US investment bank Goldman Sachs have no current plans to bid for American Airlines parent AMR, according to sources familiar with the matter.
Shares in American Airlines were up 2 percent, well below pre-market gains of as much as 11 percent after a report by BusinessWeek magazine late last Thursday.
In BusinessWeek's "Inside Wall Street" column, Gene Marcial wrote that AMR may be a buyout target of a group including Goldman and British Airways.
The proposed bid was said to be between USD$9.8 billion and USD$11.1 billion, BusinessWeek reported, citing people familiar with the matter. It is not certain that a bid for the company will materialize, BusinessWeek said, citing its sources.
British Airways, Goldman, and AMR declined to comment.
Takeovers have been a popular topic in the fragmented and highly competitive US airline industry, which posted profits last year for the first time since 2000 amid soaring demand and leaner costs.
Source: http://news.airwise.com/story/view/1171836683.html
British Airways and US investment bank Goldman Sachs have no current plans to bid for American Airlines parent AMR, according to sources familiar with the matter.
Shares in American Airlines were up 2 percent, well below pre-market gains of as much as 11 percent after a report by BusinessWeek magazine late last Thursday.
In BusinessWeek's "Inside Wall Street" column, Gene Marcial wrote that AMR may be a buyout target of a group including Goldman and British Airways.
The proposed bid was said to be between USD$9.8 billion and USD$11.1 billion, BusinessWeek reported, citing people familiar with the matter. It is not certain that a bid for the company will materialize, BusinessWeek said, citing its sources.
British Airways, Goldman, and AMR declined to comment.
Takeovers have been a popular topic in the fragmented and highly competitive US airline industry, which posted profits last year for the first time since 2000 amid soaring demand and leaner costs.
Source: http://news.airwise.com/story/view/1171836683.html