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AMR Corp receives hoax takeover bid

31-Mar-2011 12:45 PM

AMR Corp announced unsolicited takeover bids for American Airlines and American Eagle have been dismissed and referred to the Security and Exchange Commission as apparent hoaxes (MarketWatch/Wall Street Journal, 30-Mar-2011). Eastman Kodak stated it believes a USD1.3 billion buyout offer it received from Sterling Global Holdings was a hoax and the company has found no evidence of the existence of Sterling. Meanwhile the company is reportedly seeking additional international route rights for American Eagle as it weighs whether to keep or divest the business.