AirTran ups ante for Midwest Airlines

Low-cost carrier AirTran Airways has raised its offer to buy Midwest Airlines, saying it acted at the request of Midwest shareholders who are unhappy with a rival bid from a private equity firm.
AirTran Holdings, Inc, the parent of AirTran Airways, late Tuesday said that "at the request of Midwest shareholders, AirTran has increased its offer for Midwest Air Group to 16.25 dollars per share in a negotiated merger transaction." The cash-and stock offer is worth approximately 445 million dollars, AirTran Holdings said. Midwest Air Group, the parent company of Midwest Airlines, let expire Sunday AirTran's previous cash-and-stock offer of 15.75 dollars per share.