AMR Stock Gets a Boost From Reports of Bass, Union Interest
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DALLAS — The price of AMR Corp. stock rose marginally Thursday amid reports of possible interest by Ft. Worth billionaire Robert Bass in buying the parent of American Airlines. Meanwhile, another report said AMR’s chairman held talks with the company’s pilots union about a possible buyout.
The Wall Street Journal reported Thursday that aides to Bass had indicated the secretive investor might be willing to help AMR fend off New York developer Donald J. Trump’s $7-billion offer for the Ft. Worth-based company. Bass officials refused to comment.
Meanwhile, the New York Times reported in its Friday editions that AMR Chairman Robert L. Crandall met with American Airlines’ pilots union about a buyout that would include significant participation from that union and the machinists and flight attendants unions.
In composite New York Stock Exchange trading Thursday, AMR rose $1.625 a share to close at $98.75 as 1.6 million shares changed hands. On Wednesday, the price had fallen $4.25.
The share price remained well below the $120-a-share price offered by Trump.
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