Northwest to Buy Remaining Mesaba Shares

Northwest Airlines Corp. said it has proposed to buy the remaining shares of Mesaba Holdings Inc. it does not already own for $13 a share. Northwest, the world’s fourth-largest airline, said it currently owns about 28% of the outstanding shares of Mesaba Holdings and holds warrants to acquire additional shares that would raise its stake to about 40%. A Northwest spokesman was not immediately available for comment. Mesaba Holdings is the parent company of Mesaba Airlines, a regional Northwest Airlink carrier, whose flights are designated as Northwest Airlines flights under agreements with Northwest, Northwest said. Shares of Mesaba rose 25 cents to close at $11.06, while Northwest closed off 25 cents at $28.25, both on Nasdaq.