Midwest CEO: 'The cookies stay'

Posted Aug 17th 2007 3:45PM by Kevin Shult
Filed under: Deals, Management, Industry, Competitive Strategy, Private Equity

Those were the words from Midwest Airlines (AMEX: MEH) CEO Tim Hoeksema after he announced late last night that Midwest has made a decision, according to the Milwaukee Journal Sentinel. After four hostile attempts from AirTran Holdings (NYSE: AAI) and nearly two years of rejection, Midwest Airlines has finally agreed to be acquired -- by TPG Capital for $450 million.

Hoeksema is expected to remain at the CEO of Midwest. Under AirTran's ownership, he would have been forced to resign.

Midwest Airlines will get to keep its name, identity and independent status with the sale to TPG Capital, as well as the cookies.

Tags: aai, airtran, meh, midwest, northwest, nwa, tpg