Truce in UAL Takeover Battle: Coniston Partners,...
From Times Staff and Wire Reports
Truce in UAL Takeover Battle: Coniston Partners, a New York money manager, declared a truce in its takeover battle with UAL Corp. to give the company time to come up with its own recapitalization plan. The board of UAL, the parent of United Airlines, expects to have a plan by Jan. 25. But United’s pilots and flight attendants oppose a financial overhaul that doesn’t include employee ownership. The pilots said they would “do everything in (our) power” to stop a deal that doesn’t include employees. They plan to meet with UAL’s board to discuss an employee transaction.
