UAL Machinists Asked to Bid for Parent Firm

Billionaire investor Robert Bass and takeover firm Kohlberg Kravis Roberts & Co. have contacted the United Airlines’ Machinists union about bidding for parent company UAL Corp., the Wall Street Journal reported today.

Overtures from Bass and Kohlberg suggested that a pilot-led $6.75-billion offer backed by management could face unexpected competition in the bidding struggle for UAL, one of the nation’s leading airlines and a prime takeover target.

United’s Machinist union has not supported the pilot-management proposal.

UAL’s board also is considering a $6.19-billion offer from Los Angeles investor Marvin Davis.