NEW YORK: Joele Frank, Wilkinson Brimmer Katcher and Kekst & Company are representing the two players in what could be a huge merger between US Airways and Delta.
US Air announced today that it has submitted an $8 billion bid for Delta, which is restructuring and seeking to emerge from bankruptcy early next year.
Joele Frank is counseling US Air on communications surrounding the deal, managing partner Joele Frank said. A Kekst source likewise confirmed that it is representing Delta, a longtime Kekst client.
Kekst was responsible for the communications program surrounding Delta's bankruptcy filing in the fall of last year. That team, led by Kekst partner Michael Freitag, is also handling the current work on the US Air proposal.
US Air's offer was a split of $4 billion in cash and $4 billion in company stock. If accepted, the money would go toward paying off Delta's creditors, but would only satisfy half of the value of Delta's $16 billion in outstanding debt.
The merged airline would operate under the Delta brand.