THE NEWS
According to Reuters and MarketWatch, Delta plans to submit its reorganization plan this week, which will have Delta be valued at $10-12 billion after reorganization. This is down from $12-14 billion estimated last week, but definetely more than US Airways is offering ($8 billion).
In November, US Airways announced that it wants to merge with Delta Air Lines for $8 billion. Delta management refused the offer, saying they want to get out of bankruptcy on their own. The offer was presented to Delta's creditors as well, who will hear out Delta's side of the story before making a decision. The deal then will have to be approved by the Justice Department. Some senators, like Johnny Isakson from Georgia, expressed their dissatisfaction with the merger.
THE OPINION
Delta never wanted this merger in the first place. As I mentioned before, I'm not in favor of this merger and it has a lot of obstacles in its way.
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