Wednesday, March 30, 2011

AMR Corp. Rallies On Takeover Speculation

Shares of AMR Corporation (NYSE: AMR) rallied more than 3% on speculation that the company could be a takeover target. According to Citigroup, AMR reportedly received a $9.75 per share offer last night from Sterling Global Holdings. AMR is currently investigating its legitimacy and if Sterling Global has adequate funding. Citigroup notes that Sterling Global made an unrelated offer last week to another company in an unrelated industry that is also being questioned for legitimacy. Stay tuned for more.

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