Why is AirTran offering to purchase Midwest Airlines?
We firmly believe that both AirTran Airways and Midwest Airlines are stronger together than either is on their own. The employees and shareholders of both companies, as well as the communities we serve, will benefit from a stronger and more competitive airline network. How much did AirTran offer to pay for Midwest Airlines? We delivered a letter to Midwest Airlines offer $11.25 per share in a combination of cash and shares of AirTran Airways. This is a 37% premium to the average share price of Midwest over the 30 days prior to our offer on October 20, 2006, and is valued at more than $288 million dollars in equity and an additional amount for the assumption of debt. Would this be a buy-out or a merger? We view this as the combination of two great airlines and would look to create an even stronger airline based on the principles, values and best practices of each carrier. This is as a strategic combination of two networks that will be stronger together than either is on its own. Is this
