It looks like some of the bond holders at Delta Air Lines are starting to organize an informal group to push the airline to weigh their options regarding the now, $8.78 billion dollar takeover bid by US Airways.
The Wall Street Journal said, that could help the bid overcome initial opposition from the Atlanta carrier's management and skepticism from some of its larger creditors. In conference calls yesterday with Deutsche Bank AG and Lehman Brothers Holdings Inc., bondholders were urged to band together to pressure Delta to fully consider the bid from US Airways.
It is looking more and more likely that Delta management will have to submit and agree to the merger. Although any final say will come from the DOJ and DOT.
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