AirTran extends hostile bid for Midwest

As expected, AirTran Holdings Inc. announced today it will extend its “final” tender offer of $15 per share of Midwest Air Group Inc., the Oak Creek-based parent company of Midwest Airlines.

AirTran said the offer will be extended until midnight EDT on Friday, Aug. 10.

The extension means the offer will be in play when Midwest Air Group conducts its annual meeting of shareholders in its hangar at General Mitchell International Airport in Milwaukee on Thursday, June 14.

As of the close of business on June 8, shareholders have agreed to tender more than 14.6 million shares of Midwest stock to Galena Acquisition Corp., a wholly owned subsidiary of AirTran, which represents 59.5 percent of all outstanding shares of Midwest Air Group, or 64.1 percent of outstanding shares that are not held by the Midwest board or management.

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