American Airlines shares up on takeover gossip
American Airlines' share price on Friday closed up 2.4 percent, or by 92 cents, to $38.97, amid speculation that a group including Goldman Sachs and British Airways could be planning a takeover bid.
A Business Week article suggested that the group is preparing a bid of from $46 to $52 per share, which would value the Texas-based airline at about $11.1 billion.
Tim Smith, a spokesman for American, told the Associated Press that company officials 'won't speculate on what our potential role — if any — might be' in industry consolidation. 'If it becomes appropriate to comment further, we will do so.'
The speculation follows quickly after Delta Air Lines knocked back a hostile takeover by US Airways late last year.