June 04, 2007

Advisory services make recommendations for AirTran takeover

AirTran Airways announced Monday another boost to its aggressive takeover attempt of Midwest Airlines: Institutional Shareholder Services and Glass Lewis & Co., both advisory services, have recommended Midwest shareholders vote for AirTran's slate of directors to Midwest's board.

The Orlando-based airline is set to make its next takeover move June 14, when Midwest holds its annual meeting. Both airlines are running competing slates of three directors. If AirTran prevails, it will bring the airline a step closer to pushing through its merger plans.

Management at Midwest, however, has strongly advocated that its shareholders buy into its plan to remain a standalone company.

Source: www.orlandosentinel.com

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