Delta Air Lines
gained ground Friday after a press report indicated that an investment group was preparing a $7.5 billion buyout bid.
column reported that unnamed "industry insiders" are saying a major buyout group and two former airline executives are looking for bank financing for a $7.5 billion bid, which would value the carrier at $61 a share. Such a bid would also be the latest among the mergers and consolidation attempts the industry has experienced this year. Delta called the story "speculative" late Thursday.
Delta's share price has recently been trading lower, close to its 52-week low of $42.94, amid sharply higher oil prices and fears over the impact a slowing economy. The 52-week high is $58.31.
The airline's shares recently traded at $47.50, up $2.25, or 5%.