US Airways Group Inc. (NYSE: LCC) is trying to pull out all the stops in its attempted hostile takeover of Delta Air Lines Inc. by lifting its offer by $1 Billion.

In order for the offer to get lifted, US Airways wants the official committee to request Delta to open itself up for due diligence by US Airways, to have a bankruptcy judge to postpone a hearing next week on Delta's restructuring plan and agree to support the start of a formal antitrust review.

The committee of Delta creditors will have until Thursday to decide if it wants to proceed with the US Airways offer. For now, I would be willing to bet that Delta is not going to go for this current offer and instead decide to follow the advice of its chief executive, Gerald Grinstein, who has repeatedly insisted the airline would be better off to emerge from bankruptcy-court protection on its own later this year

The main reason behind the raise in the current offer can be traced to a meeting between US Airways and some Delta creditors who aren't part of the official committee that advised the Airliner to increase its current bid by $2 billion. Will this be enough to sway some votes in US Airways favor? I doubt it, but we should get a better picture of the current takeover situation over the next few days.

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer.