TWA Bids to Take Over Ozark

The parent company of Ozark Airlines said today that it had received a $224-million takeover bid from the much-larger Trans World Airlines, which itself was the subject of a bitter acquisition struggle last year.

St. Louis-based Ozark Holdings Inc. said its board of directors was meeting to consider the bid by New York-based TWA, which also has major operations in St. Louis. With approximately 11.77 million Ozark shares outstanding, the offer is worth about $224 million.