Airline Stocks Rising: Mysterious AMR Bidder Kicks Off Speculation

It’s strange but true. A mysterious offer from a company called Sterling Global Holdings for a privatized buy-out of AMR has sent U.S. airline stocks heading for the clouds Wednesday. The company offered more than $3 billion to acquire American Airlines’ parent company according to the Dallas Morning News, which received a letter from Sterling Global with details of the offer. The offer was for $9.75 per share, sending trading volume and the price of AMR shares up. The stock shot up 5% before tapering to a 4% gain.

http://blogs.forbes.com/heatherstruck/2011/03/30/airline-stocks-rising-mysterious-amr-bidder-kicks-off-speculation/