During a webcast Tuesday afternoon, there was quite an exchange between Midwest Airlines investors and analysts and Midwest chairman Tim Hoeksema.
Richard Hurowitz, who runs Octavian Advisors that owns six percent of Midwest stock, urged Hoeksema to start negotiations with Air Tran. Air Tran is involved in a hostile takeover attempt of Midwest.
"Why are you reluctant to negotiate?" Hurowitz said to Hoeksema, pointing out that 56 percent of Midwest shares have been pledged to AirTran.
Hoeksema wouldn’t budge. He told Hurowitz AirTran's latest offer of $13.25 per share isn’t good enough. He also said Midwest’s improvement plans will net around $30 million annually to the airline in the future.
Hurowitz kept at it, but Hoeksema reportedly kept his cool.
You can read more of the details
here.
