US Airways (LCC) Leverages-Up for Potential AMR (AAMRQ) Takeover
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US Airways Group (NYSE: LCC) is taking the potential acquisition of AMR Corp. (OTCBB: AAMRQ) very, very seriously.
Very seriously.
According to bankruptcy court filings made late Thursday, US Airways is snatching up AMR debt, paying just 60 cents on the dollar. US Airways also noted it supports AMR Corp.'s request to draft a reorganization plan.
Holding onto AMR Corp.'s debt, US Airways is now leveraging the potential to force AMR into a merger should the bankrupt company fail to follow through on a plan to "seek alternatives."
US Airways is up about 1.4 percent in early trading Friday.
Very seriously.
According to bankruptcy court filings made late Thursday, US Airways is snatching up AMR debt, paying just 60 cents on the dollar. US Airways also noted it supports AMR Corp.'s request to draft a reorganization plan.
Holding onto AMR Corp.'s debt, US Airways is now leveraging the potential to force AMR into a merger should the bankrupt company fail to follow through on a plan to "seek alternatives."
US Airways is up about 1.4 percent in early trading Friday.
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