Carl Icahn's Crazy Like A Fox Grab For Pan Am

Not one to be rushed or bullied, Delta Air Lines Inc. held back earlier this year as rivals American and United scrambled to pick up choice routes to Europe from failing U. S. carriers. In mid-July, Delta Chairman Ronald W. Allen calmly suggested a $260 million deal for bankrupt Pan Am's expansive European routes and its East Coast shuttle. Gentlemanly indeed.

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