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A ticker counter at American Airlines' terminal at O'Hare, Jan. 17, 2011 (Phil Velasquez/Chicago Tribune)
AMR Corp., parent of American Airlines, said it was investigating the legitimacy of a reported $3.25 billion buyout offer from a company called Sterling Global Holdings.
AMR confirmed it received a letter from Sterling Global on Wednesday, but said “at this time we have no corroborating information to demonstrate the offer described in the letter is legitimate.” Get the full story »
Sara Lee Corp. has rejected a takeover offer valued between $18.70 and $20 a share from a private equity group led by Apollo Global Management LP, a source familiar with the situation said Wednesday.
Sara Lee has been weighing splitting up the company into separate meat and beverage units, or accepting a takeover offer. Sara Lee’s board was scheduled to meet Wednesday and Thursday to weigh its options, a source previously told Reuters. Get the full story »
