U.S. Airways Bids $8 Billion to Take Over Delta
U.S. Airways announces a proposal to take over Delta Air Lines in a deal worth $8 billion in cash and stock. The new airline would take the Delta name. U.S. Airways is currently in the process of finalizing its merger with America West.
If it goes through, the proposed deal may start a series of mergers and consolidation in the airline industry that has only recently returned to profit after billions of dollars of losses.
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