AIRLINES Too Heavy For Takeoff

Notes AIRLINES Too Heavy For Takeoff

The two biggest airline deals of all time may never get off the ground. Developer Donald Trump last week withdrew his $7.5 billion bid for AMR, the parent company of American Airlines, because the firm's stock price had plunged far below his $120-a-share offer during Wall Street's anxiety attack over heavily leveraged deals (AMR closed at 70 7/8, down 27 3/4 for the week). AMR's board declared that the company is not for sale, but Trump said he might launch another bid at a lower price.

Meanwhile, the employee-management buyout bid for UAL, the parent company of United Airlines, lost a...

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