Midwest accepts $450 million TPG offer

Midwest Airlines has made its decision--the regional carrier will sell to TPG Capital for $17 per share, or about $450 million. The deal preserves the airline's identity, in contrast to a competing offer by AirTran, which wanted to bring Midwest operations under its own brand. "The agreement preserves the airline's status as Milwaukee's hometown airline and the popular Midwest Airlines brand," Midwest Chairman and CEO Timothy Hoeksema said.

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