Thursday, August 16, 2007

Breaking news: Midwest chooses TPG at $17/share cash

The deal is done: Midwest Airlines goes for $17/share cash to TPG pursuant to unanimous vote of Midwest directors. CEO Tim Hoeksema says Northwest Airlines will be a minority passive investor but concedes he doesn't know the exact percentage. More details in a news release tomorrow morning.

Hoeksema's comments imply that the arrangement will continue present Midwest service.

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