Western OKs Delta Offer
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United Press International
NEW YORK — Western Air Lines Inc. announced today that its directors accepted a takeover bid from Delta Air Lines Inc. valued at $12.50 a share, or $860 million.
Western shareholders will receive $6.25 cash per share and the remainder in Delta stock. A Western spokesman in Los Angeles said the two carriers expect the acquisition to be completed by next spring. Western is the nation’s 12th-largest airline.
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