Delta Air Lines board to discuss the $10.2 billion bid from US Airways

Delta Air Lines board to discuss the $10.2 billion bid from US Airways

US based Airline Company Delta Air Lines have said that the company’s board would be discussing the recently upgraded $10.2 billion bid from the rival US Airways.

The company board has repeatedly said that it opposes a merger with US Airways. However, they are now obligated to review US Airways’ improved offer that was made on January 10.

They had earlier rejected the older offer from the US Airways. The new offer is 20% above the original bid.

Delta further said that they estimate their worth to be between $9.4 billion to $12 billion if it realizes its aim of emerging from Chapter 11 bankruptcy protection.

A company statement added: “Delta’s management and advisers are evaluating the revised US Airways proposal, in anticipation of making a further presentation to Delta’s board of directors in the near future.”