|US Airways chief Doug Parker says the chance to acquire Delta Air Lines is a unique opportunity that would offer more value to Delta shareholders than Delta's reorganization plan. (Hyungwon Kang/Reuters)|
US Airways firm on Delta
No increased bid, or backing out
ATLANTA -- US Airways has no intention of increasing its $8.4 billion offer for Delta Air Lines and doesn't see itself backing out of its pursuit of Delta for any reason, chief executive Doug Parker said yesterday.
In a wide-ranging phone interview, Parker said US Airways Group Inc. firmly believes its offer for Atlanta-based Delta Air Lines Inc. provides more value than Delta's stand-alone plan.
"We believe our offer is more than fair and don't feel any need to amend it at this point," he said.
But, Parker did not exactly rule out the possibility of changing his mind about the offer price.
"If these conversations move to negotiations about value, we're happy to have those conversations," he added. "We have not had those types of conversations yet."
Asked if there is any way US Airways would drop its hostile bid for Delta absent Delta's creditors' committee saying it wasn't interested, Parker indicated he didn't see any.
"We think this is such a unique opportunity that we have an obligation to pursue it and . . . believe we will be successful," Parker said. "So, no, I can't envision any scenario where we simply say, 'We change our mind.' "