ORLANDO, Fla.,
Aug. 10 /PRNewswire-FirstCall/ -- AirTran Holdings, Inc.
(NYSE: AAI), the parent of AirTran Airways, today announced that Midwest Air
Group (Amex: MEH) shareholder support has increased in support of our plan to
merge and create a truly national low-cost, high quality airline.
As of the close of business on August 10, 2007, shareholders have agreed
to tender approximately 15.5 million shares of Midwest to Galena Acquisition
Corp., a wholly owned subsidiary of AirTran, which represents 62.7 percent of
all outstanding shares of Midwest Air Group -- a 3.2 percentage point increase
over the number of shares tendered at the expiration of the last tender offer
which expired June 8, 2007.
"Now, for the fourth consecutive time, we are pleased by the response from
Midwest's shareholders who have steadily increased their support for AirTran's
tender offer and our long-term strategic plan," said Joe Leonard, AirTran
Airways chairman and chief executive officer. "We call upon Midwest's Board
of Directors to listen to the overwhelming majority of their shareholders and
negotiate a definitive merger agreement with AirTran."
AirTran Airways, a Fortune 1000 company, offers passengers more than 700
affordable, daily flights to 56 destinations throughout the United States. The
airline is the second-largest carrier at its hub, Hartsfield-Jackson Atlanta
International Airport, and one of America's largest low-fare airlines. With
more than 8,800 friendly Crew Members and free online booking on
http://www.airtran.com, AirTran Airways makes travel both pleasant and
convenient. The airline flies America's youngest all-Boeing fleet, composed of
the fuel-efficient Boeing 737-700 and 717-200 aircraft. AirTran Airways was
also the first to install XM Satellite Radio on a commercial aircraft and the
only airline with Business Class seating on every flight. For more
information, visit http://www.airtran.com.
Financial and Legal Information
This document relates, in part, to the offer (the "Offer") by AirTran
Holdings, Inc., ("AirTran") through its wholly-owned subsidiary, Galena
Acquisition Corp. ("Galena"), to exchange each issued and outstanding share of
common stock and Series A Junior Participating Preferred Stock and associated
rights of Midwest Air Group, Inc., a Wisconsin corporation ("Midwest"),
(collectively the "Rights" and together, the "Midwest Shares"), for
consideration consisting of a combination of cash and common stock, par value
$0.001 per share ("AirTran Common Stock"), of AirTran having an aggregate
value of $15.00 per share, comprised of $9.00 in cash and 0.5842 of a share of
AirTran common stock.
The Offer currently is scheduled to expire at 12:00 Midnight, New York
City time on August 10, 2007, unless extended. AirTran and Galena have
expressly reserved the right, in their sole discretion, to extend the period
of time during which the Offer will remain open. Any extension will be
announced no later than 9:00 A.M., New York City time, on the next business
day after the previously scheduled expiration date.
This document does not constitute an offer to purchase or the solicitation
of an offer to sell which is being made only pursuant to the Offer to Exchange
and related Letter of Transmittal forming part of the registration statement
referred to below. The information required to be disclosed by Exchange Act
Rule 14d-6(d)(1) is contained in the Prospectus and is incorporated by
reference. The Offer is not being made to and nor will tenders be accepted
from or on behalf of holders of securities of Midwest Air Group, Inc. in any
jurisdiction in which the making of the Offer or the acceptance thereof would
not comply with the laws of such jurisdiction. In those jurisdictions in the
United States where the securities, blue sky or other laws require the Offer
to be made by a licensed broker or dealer, the Offer shall be deemed to be
made on behalf of AirTran and Galena by Morgan Stanley & Co. Incorporated and
Credit Suisse Securities (USA) LLC, or by one or more registered broker or
dealers under the laws of such jurisdiction.
AirTran has filed a Registration Statement (No. 333-139917) with the
Securities and Exchange Commission on Form S-4 relating to the AirTran common
stock to be issued to holders of Midwest shares in the offer (the
"Registration Statement"). The terms and conditions of the Offer are set forth
in the prospectus, which is a part of the registration statement (the
"Prospectus"), and the related Letter of Transmittal, which also are exhibits
to the Schedule TO.
Investors and security holders are urged to read the Registration
Statement, as well as any other relevant documents filed with the SEC, and any
amendments or supplements to those documents, because they contain or will
contain important information.
Investors and security holders may obtain a free copy of the Registration
Statement, the Schedule TO, and amendments and supplements to such respective
documents at http://www.sec.gov. The Registration Statement, the Schedule TO,
and such other documents and amendments and supplements to such respective
documents may also be obtained free of charge from AirTran by directing such
request to: Richard P. Magurno, Corporate Secretary, AirTran Holdings, Inc.,
9955 AirTran Boulevard, Orlando, Florida 32827, or to the information agent
for this offering: Innisfree M&A Incorporated, 501 Madison Avenue, New York,
New York 10022.
Investor Contacts:
Jennifer Shotwell
Or Alan Miller
Innisfree M&A Incorporated
212.750.5833
Media Contacts:
Tad Hutcheson
678.254.7442
tad.hutcheson@airtran.com
Judy Graham-Weaver
678.254.7448
judy.graham-weaver@airtran.com
David Hirschman
david.hirschman@airtran.com
678.254.7465
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