Advertisement

BRIEFLY

Icahn sold almost all of his USAir holding.

March 26, 1987

Corporate raider Carl C. Icahn sold virtually all of his 15% holding in USAir Group for $180 million, a move that appears to end his involvement with USAir, which he tried to take over for $1.6 billion earlier this month. USAir Group itself is seeking to buy Piedmont Aviation. Trans World Airlines, of which Icahn is chairman, actually held the USAir Group stock and sold it on the open market in a block trade. The 4-million-share block of USAir common was sold for $45 a share to a number of institutions, according to Mark Buckstein, TWA's general counsel.

Advertisement
Los Angeles Times Articles
|
|
|