After more than two months of back-and-forth rhetoric that spurred speculation of widespread US airline industry consolidation, US Airways yesterday withdrew its $10.2 billion offer to acquire Delta Air Lines, saying it was "now clear" the official DL creditors' committee would not back the bid "in a timely or productive manner." The creditors' committee said in a statement that it "will support the standalone plan of reorganization" released by DL (ATWOnline, Dec. 20, 2006) and promised "to ...
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