Former TWA Owner Joins Group in $650 Million Bid for Airline.

Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2001 Daily News

Byline: David Andelman

Mar. 6--Carl Icahn may wind up owning TWA -- again.

The billionaire New York financier -- who owned the airline from 1985 to 1993, including when it first filed for bankruptcy -- has joined with a buyout group bidding $650 million, topping a 2-month-old, $500 million bid from American Airlines.

In outbidding American, the nation's second-largest airline, Icahn would also take responsibility for a $325 million emergency credit line.

Icahn wants control of newly bankrupt TWA,...

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