British Airways sees new USAir bidAfter withdrawing a $750...


January 06, 1993

British Airways sees new USAir bid

After withdrawing a $750 million offer last month, British Airways might soon bid for a much smaller stake in USAir, a London newspaper says.

British Airways announced in late December that it was abandoning its $750 million offer to acquire 44 percent of USAir's outstanding stock, which included a 21 percent share of voting rights. The Independent newspaper said yesterday that British Airways was now contemplating an offer of up to 20 percent of the company for considerably less money. A spokesman for the Arlington, Va.-based USAir called the newspaper report "highly speculative." Both USAir and British Airways said they were continuing to negotiate another arrangement.


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