| 0 |
WSJ891101-0043
= 891101
891101-0043.
Business Brief -- StatesWest Airlines:
@ Offer for Mesa Withdrawn;
@ Firm to Continue Pursuit
11/01/89t40
WALL STREET JOURNAL (J)
SWAL MESA
TENDER OFFERS, MERGERS, ACQUISITIONS (TNM)
| 1 |
StatesWest Airlines
,
Phoenix
,
Ariz.
,
saide1
it
withdrewe2
its
offere3
to
acquiree5
Mesa Airlines
because the
Farmington
,
N.M.
, carrier did n't
responde6
to its
offere8
by the
closee9
of
businesse10
yesterdayt41
, a deadline
StatesWest
had
sete11
for a response.
| 2 |
However,
StatesWest
is n't
abandoninge12
its
pursuite14
of the much-larger
Mesa
.
| 3 |
StatesWest
, which has a
7.25%
stake in
Mesa
,
saide17
it may
purchasee18
more
Mesa
stock or
makee20
a tender
offere21
directly to
Mesa
shareholders.
| 4 |
StatesWest
had
proposede22
acquiringe23
Mesa
for
$7
a share and one share of a new series of
StatesWest
6%
convertible preferred stock it values at
$3
a share.
| 5 |
Earliers43
,
Mesa
had
rejectede26
a general
proposale27
from
StatesWest
to
combinee29
the
two
carriers in some way.
| 6 |
StatesWest
serves
10
cities in
California
,
Arizona
and
Nevada
.
| 7 |
Mesa
flies to
42
cities in
New Mexico
,
Arizona
,
Wyoming
,
Colorado
and
Texas
.
| | | | | | | |