Alleged takeover offer to take AMR private for $3.25B

Discussion in 'American Airlines | AAdvantage' started by SC Flier, Mar 30, 2011.  |  Print Topic

  1. SC Flier
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    SC Flier Gold Member

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    http://aviationblog.dallasnews.com/archives/2011/03/florida-company-makes-325-bill.html
    From the article:

    I've just received a copy of a letter allegedly sent by Sterling Global Holdings of Davie, Fla., to pay $9.75 a share for all shares of AMR, with plans to take the parent of American Airlines private.​

    I say "allegedly" because I have not been able to reach the person whose name appears on the letter, A. Weintraub, who identifies himself as managing partner for Sterling Global Holdings. His voice mail identifies him as Al.​

    Also...
    Here's what the Rochester newspaper blogged about Weintraub and his company:​
    "Weintraub declined to give any specifics of companies or properties Sterling Global supposedly has bought. A Google search for Sterling Global Holdings turns up nothing. Sterling Global on its letterhead gives an address in Davie, Fla., north of Miami. And the Florida secretary of state has no incorporation records for Sterling Global Holdings or anything close to that name operating in Davie or involving Weintraub. The fax number for Sterling Global returns to the northeast Ohio offices of a California communications company that offers, among other services, eFaxing, in which faxes are turned into emails."​

    Has the Milepoint kiva.org team taken on a much bigger investment than I thought? ;)
     
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  2. The Traveller
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    Apparently the same company made an offer for Eastman Kodak last week. Seems pretty sketchy...
     
  3. DestinationDavid
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    DestinationDavid Milepoint Guide

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    I think it's fairly safe to assume neither AA nor Kodak will be taking these "offers" seriously.... ;)

    On the other hand, if they are, I'll be submitting my own bid soon. Can I use my AA miles as collateral?
     
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  4. The Traveller
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    Now you just put the ridiculous picture into my head of someone buying AA with AAdvantage miles...
     
  5. SC Flier
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    Collectively on MP, how close are we all to having 375 billion miles? I'm a good bit short of that.
     
  6. The Traveller
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    Maybe if AA lets us redeem lifetime miles... ;)
     
  7. SC Flier
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    If anyone else needs a model for a Notice of Takeover letter, be sure to follow the link above.

    Proof that Kodak has pretty much lost the battle for the photography market.
     
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  8. Wurm
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    Wurm Silver Member

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    One thing to note: If you stand in the parking lot of that building (University Drive south of Griffin Drive), you have a killer view of the FLL approach path. Maybe Winey is just an overeager plane-spotter at heart :D
     
  9. Original Member
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    I wonder if Customer Service actually replied to this letter with a personalized email. :D

    I can't think of anything worse for AA as a brand than private equity taking over... at least this guy is a known crook!
     

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