US Airways Group Inc. on Wednesday withdrew a hostile offer for bankrupt Delta Air Lines Inc. after Delta creditors rejected the bid, taking immediate pressure off rivals to merge.
US Airways, the No. 7 U.S. airline, pulled its $9.8 billion offer after Delta's official creditor committee, which plays a decisive role in determining the carrier's future, said it will support Delta's plan to exit Chapter 11 as a stand-alone company.
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