K-7 Capital Scraps Plan to Acquire Patriot Airlines
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K-7 Capital Corp. in Sherman Oaks said it scrapped plans to acquire Patriot Airlines Inc., a charter air-cargo carrier based in Redwood City, Calif.
In preliminary talks, the companies had proposed merging through an exchange of stock, but specific terms had not been announced. K-7 Capital said it would continue looking for privately held companies as potential merger candidates.
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