P. M. BRIEFING : Takeover of Northwest Faces ‘War’
Minnesota Gov. Rudy Perpich said today the state will wage an “all-out war” to block a hostile takeover of Northwest Airlines, the nation’s fourth-largest airline headquartered in the Twin Cities.
Denver billionaire oilman Marvin Davis offered $2.67 billion, or $90 a share, for Northwest last week.
The governor met with about 25 other government and union officials for more than two hours Sunday night and discussed ways to prevent a takeover, which he said would have a staggering effect on the state’s economy.
“This will be all-out war as far as the state of Minnesota is concerned,” Perpich said today. “We have worked hard over the past six years to add 300,000 jobs to our state economy. But a takeover of Northwest Airlines would knock the foundation out from under all of our efforts.”
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