Midwest Air shareholders approved a $450 million dollar sale to private equity firm TPG Capital. The approval ends a year long battle with AirTran Airways over a hostile take over bid.
The bid faces one more hurtle as it needs to be approved by anti-trust regulators. Midwest Chairman and Chief Executive Timothy E. Hoeksema said he expects the deal will be cleared by the government and the sale will close by the end of the year.
Many have critized the move because of the partner that TPG Capital has partnered with. Many feel that Midwest might start to look like Northwest Airlines. But only time will really tell.
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