{"id":5603,"date":"2007-01-29T00:00:00","date_gmt":"2007-01-29T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-examine-airline-merger","status":"publish","type":"post","link":"https:\/\/www.hedgeco.net\/news\/01\/2007\/hedge-funds-examine-airline-merger.html","title":{"rendered":"Hedge Funds Examine Airline Merger"},"content":{"rendered":"<p>  <span class=\"copy\">HedgeCo.Net (New York) &#8211;<\/span> Delta Air Lines is planning a reorganization of its business plan, including a possible merger that is said would improve service, but is being  scrutinized by hedge fund shareholders.<\/p>\n<p>  US Airways has offered to buy Delta in an $8.4 billion bid, and Delta has the option to sell before Feb. 7th when the U.S. Bankruptcy Court for the Southern District of New York holds a hearing on  Delta\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s disclosure statement.<\/p>\n<p>  The group of unsecured creditors that are questioning the merger is made up largely of hedge funds holding billions of dollars in claims. The hedge fund team said in a statement that they &#8220;look  forward to analyzing carefully and discussing with Delta the proposed plan and the assumptions upon which it is based however&#8230;.. it expects Delta to consider alternatives to its proposed stand  alone chapter 11 plan to ensure that creditor recoveries are maximized.&#8221;<\/p>\n<p>  The Unofficial Committee of Unsecured Claimholders includes 18 hedge funds and investment management companies that hold $2.35 billion worth of creditors\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2 claims against Delta and its subsidiaries.  The hedge fund team was formed in Dec 06 and is represented by Paul, Weiss, Rifkind, Wharton &amp; Garrison.<\/p>\n<p>  On Jan. 10, the hedge fund group called on Delta to allow US Airways to postpone the Feb. 7 disclosure hearing so that the proposal could be fully evaluated. Other creditors, such as those on the  unofficial committee, could pressure larger creditors to force Delta&#8217;s hand. If approved, the statement will be submitted to a vote of all creditors.<\/p>\n<p>Alex Akesson<\/p>\n<p align=\"left\">  Contributing Writer<br \/>  HedgeCo.Net<br \/>  Email: <a href=\"mailto:Editor@hedgeco.net\">Editor@hedgeco.net<\/a> <\/p>\n<div align=\"left\">\n<p align=\"left\">    HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge    Funds!  <\/p>\n<div align=\"left\">\n<p align=\"left\">      <strong>Be sure to check out our sister sites. <a href=\"http:\/\/www.hedgefundlounge.com\/\">www.hedgefundlounge.com<\/a>, <a href=      \"http:\/\/www.hedgefundtools.com\/\">www.hedgefundtools.com,<\/a><\/strong> and <a href=\"http:\/\/www.hedgefundemployment.com\/\"><strong>www.hedgefundemployment.com.<\/strong><\/a>    <\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>HedgeCo.Net (New York) &#8211; Delta Air Lines is planning a reorganization of its business plan, including a possible merger that is said would improve service, but is being scrutinized by hedge fund shareholders. US Airways has offered to buy Delta [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5603","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5603"}],"version-history":[{"count":0,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5603\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}