NEW YORK (TheStreet) -- Delta Airlines (DAL) is reportedly looking to gobble up some of its competition.
According to The Wall Street Journal, the company is doing its homework on possibly making a bid to acquire US Airways (LCC), according to unnamed "people familiar with the matter."
The Journal article said AMR Corp., the parent company of American Airlines that filed for bankruptcy protection in late November, could also end up a target of Delta, which is said to be working with Goldman Sachs (GS) and Blackstone Group (BX) as advisers.
Delta has yet to approach US Airways, the article said, as it's still mulling which deal makes the most sense for it from a strategic standpoint and which is more attractive from a regulatory standpoint.Shares of Delta closed at $10.39, up 2.2%, while US Airways' stock finished at $8.18, enjoying a gain of 4.2% on the day. AMR, which now trades on the Pink Sheets, last transacted at 69 cents. US Airways' shares are down 23% in the past year, while Delta's stock is off 14%. --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
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