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Ual Inc

BUSINESS
September 6, 1989 | From Reuters
Shares of UAL Corp. rose sharply Tuesday after a bid from a management-labor group last week and on the prospect of a higher offer from competing bidder Marvin Davis. But analysts said Davis may find it hard to persuade unions at UAL's United Airlines to offer the steep concessions necessary to mount a competitive bid. UAL rose $3.75 a share to close at $290.75 in active trading on the New York Stock Exchange. The management group, which includes Chairman Stephen M.
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BUSINESS
September 1, 1989 | From Staff and Wire Reports
The pilots union at United Airlines, together with British Airways, reportedly is set to make an offer worth up to $6.5 billion for the carrier, trumping a $6.19-billion offer from Los Angeles investor Marvin Davis. The New York Times reported in today's editions that the pilots union planned to make the offer today and that UAL's board was expected to approve it soon.
BUSINESS
July 8, 1989 | From Reuters
Pilots for UAL Corp., parent of United Airlines, said Friday that they were considering a bid for the airline as UAL's stock price soared on growing speculation that the company was an acquisition target. UAL shares, up $35 in the past three weeks, rose $13.50 to close at $166, with 1.7 million shares changing hands, making it the second most heavily traded issue on the New York Stock Exchange. At its current stock price, UAL is worth more than $3.6 billion.
BUSINESS
August 12, 1989 | DENISE GELLENE, Times Staff Writer
Advisers to Los Angeles billionaire Marvin Davis flew to Newark, N.J., late Thursday to meet briefly with representatives of UAL Corp., the parent of United Airlines and the target of a $5.4-billion takeover bid by Davis, it was learned Friday. At the airport rendezvous, the UAL people were reported to have taken no position on Davis' $240-a-share bid.
BUSINESS
September 1, 1989 | ROBERT E. DALLOS, Times Staff Writer
The Transportation Department, concerned about the heavy load of debt taken on by Northwest Airlines in its recent buyout by Los Angeles investor Alfred A. Checchi, said Thursday that it is conducting a full-scale "fitness examination" of the airline with particular emphasis on safety. Jeffrey N. Shane, assistant secretary for policy and international affairs, said in an interview that the department would closely scrutinize both debt burdens and foreign investment in the U.S. airline industry.
BUSINESS
August 10, 1989 | DENISE GELLENE, Times Staff Writer
UAL Corp., the parent of United Airlines, Wednesday reviewed a $5.4-billion takeover bid from Los Angeles billionaire Marvin Davis but said it needed more time to consider the offer along with other options for the company's future. In a statement, UAL said it intended to "explore all possible financial and strategic alternatives open to the company, including continuing its strategic business plans as an independent, publicly owned company."
BUSINESS
September 2, 1989 | ROBERT E. DALLOS, Times Staff Writer
The Air Line Pilots Assn., which Friday joined management of UAL Corp. in a bid to buy the airline company, has never been a traditional blue-collar labor union. Most of its members have college degrees. Many own businesses on the side. And the pilots are among the nation's best-paid union laborers with annual salaries topping $80,000. But it is still a labor union.
BUSINESS
September 2, 1989 | DENISE GELLENE, Times Staff Writer
United Airlines' pilots, joined by the company's senior managers and British Airways, Friday bid $6.5 billion for the parent company, UAL Corp., topping the $6.2-billion offer by Los Angeles billionaire Marvin Davis. UAL said the new proposal, valued at $300 a share, would give employees a 75% stake in the airline. UAL's top managers, including Chairman and Chief Executive Stephen M. Wolf, would get a 10% stake, and British Airways would end up with 15% of the carrier.
BUSINESS
September 9, 1989 | DENISE GELLENE, Times Staff Writer
Amid rumors about possible competing bidders, Los Angeles investor Marvin Davis said Friday that he signed a confidentiality agreement with UAL, the parent of United Airlines, allowing him to review the airline's financial documents. Shares of UAL continued to decline Friday, closing at $280.25, down $1.50, in moderate trading on the New York Stock Exchange. Traders blamed the decline on rumors a large UAL shareholder, New York financier Saul P.
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