This Parting Is No Sorrow

Investor Carl Icahn may have finally found a way out of TWA

It has been widely accepted wisdom that corporate raider Carl Icahn launched his hostile takeover of Trans World Airlines six years ago in order to greenmail management into paying a higher price for his stock. Icahn confounded the skeptics by actually taking control and running the airline, - but he has made no secret in recent years of wanting out of his money-losing investment. Throughout last week, Icahn and TWA's labor unions hammered away at a deal that would turn over the airline to its 28,000 workers and allow the New York takeover artist to bail out and save face at...

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