P.M. BRIEFING : Oilman Bids for Northwest Airlines
<i> From Times wire services</i>
ST. PAUL, Minn. —
Billionaire oilman Marvin Davis today began a $90-per-share, $2.6-billion tender offer for all outstanding shares of NWA Inc., parent company of Northwest Airlines, that will run through May 17.
In launching the hostile takeover attempt, Davis Acquisition Inc. said it is willing to negotiate on price and repeated a pledge not to sell NWA assets or move its headquarters from Minnesota.
