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Banks Optimistic About UAL Buyout: Banks are...

From Times Staff and Wire Service Reports

Banks Optimistic About UAL Buyout: Banks are generally optimistic on financing a $4.4-billion employee buyout of UAL Corp., although the talks are in their initial stages, a spokesman for the buyout group said. Gerald Greenwald, the executive leading the buyout effort, has had talks with about six banks, said the spokesman for United Employee Acquisition Corp., the buyout group formed by UAL’s three major unions. The group has until Aug. 9 to line up financing for its bid for UAL.


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