wsj_0321.xml
WSJ891101-0043
WSJ891101-0043
=
891101
=
891101
891101-0043
.
891101-0043
.
Business
Brief
--
StatesWest
Airlines
:
@
Offer
for
Mesa
Withdrawn
;
@
Firm
to
Continue
Pursuit
Business
Brief
--
StatesWest
Airlines
:
@
Offer
for
Mesa
Withdrawn
;
@
Firm
to
Continue
Pursuit
11/01/89
11/01/89
11/01/89
WALL
STREET
JOURNAL
(
J
)
WALL
STREET
JOURNAL
(
J
)
SWAL
MESA
SWAL
MESA
TENDER
OFFERS
,
MERGERS
,
ACQUISITIONS
(
TNM
)
TENDER
OFFERS
,
MERGERS
,
ACQUISITIONS
(
TNM
)
StatesWest
Airlines
,
Phoenix
,
Ariz.
,
said
it
withdrew
its
offer
to
acquire
Mesa
Airlines
because
the
Farmington
,
N.M.
,
carrier
did
n't
respond
to
its
offer
by
the
close
of
business
yesterday
,
a
deadline
StatesWest
had
set
for
a
response
.
However
,
StatesWest
is
n't
abandoning
its
pursuit
of
the
much-larger
Mesa
.
StatesWest
,
which
has
a
7.25
%
stake
in
Mesa
,
said
it
may
purchase
more
Mesa
stock
or
make
a
tender
offer
directly
to
Mesa
shareholders
.
StatesWest
had
proposed
acquiring
Mesa
for
$
7
a
share
and
one
share
of
a
new
series
of
StatesWest
6
%
convertible
preferred
stock
it
values
at
$
3
a
share
.
Earlier
,
Mesa
had
rejected
a
general
proposal
from
StatesWest
to
combine
the
two
carriers
in
some
way
.
StatesWest
serves
10
cities
in
California
,
Arizona
and
Nevada
.
Mesa
flies
to
42
cities
in
New
Mexico
,
Arizona
,
Wyoming
,
Colorado
and
Texas
.