Carl C. Icahn said he plans to take control of TWA.
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In a filing with the SEC, the financier said he intended to raise his stake in Trans World Airlines to “in excess of 50%” of the carrier’s total common stock outstanding. Icahn now owns 45.5% of TWA’s shares and already is on the verge of taking over the airline. A day earlier, TWA’s directors refused to adopt measures to block Icahn that were proposed by a rival suitor, Texas Air. Texas Air, the parent of Continental Airlines, is offering $26 a share for TWA, while Icahn is offering $24 a share for the stock that he doesn’t already own.
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