TEMPE, Ariz., Jan. 29 (UPI) -- US Airways may increase its hostile bid for U.S. carrier Delta Air Lines by $1 billion to win support from Delta creditors, a published report said Monday.
US Airways said it would be willing to sweeten its $9.8 billion cash-and-stock offer to about $10.8 billion if creditors demanded Atlanta-based Delta open its books to US Airways for due diligence, The Wall Street Journal reported.
US Airways would also have to agree to support the start of a formal antitrust review, the newspaper said.
US Airways' takeover attempt has failed to win broad support from Delta's official committee of creditors, which holds much of the power to decide the airline's fate.
US Airways' $9.8 billion offer expires Thursday and Delta could begin soliciting votes from creditors for its standalone reorganization plan after a Feb. 7 court hearing.
Delta Chief Executive Officer Gerald Grinstein has insisted his airline would be best if it emerged from bankruptcy-court protection on its own.
