P.M. BRIEFING : Ueberroth Group to Buy HAL Inc.

An investment group that includes former Baseball Commissioner Peter V. Ueberroth is buying the financially struggling parent of Hawaiian Airlines, company officials said.

HAL Inc. said Sunday that its board of directors unanimously accepted a tender offer of $22 a share from the group headed by J. Thomas Talbot, a former airline executive from California. The group plans to obtain at least 51% of the company’s stock, making its offer worth around $22 million.

HAL stock, boosted in recent months by takeover rumors, has been trading far above the $22 offered by the Talbot group, closing at $31.62 1/2 a share Friday on the American Stock Exchange. The shares were trading at the same level this morning after a temporary halt.

Earlier this month, rumors circulated that Delta Air Lines was interested in acquiring HAL, to ward off a takeover itself and to gain access to Hawaiian Airlines’ South Pacific and Japanese routes. The rumors were denied by HAL.