TRANSPORTATION
From Times Staff and Wire Reports
Continental Airlines to Announce Winning Bidder: Continental Airlines Holdings Inc. is expected today to say which of two rival bidders will liberate its troubled operations from nearly two years of federal bankruptcy proceedings. Air Canada with Texas investors Air Partners L. P. offered $425 million for Continental, while Maxxam Inc. together with Aeromexico offered $400 million. The Houston Post quoted sources Sunday as saying that both bids have been raised to around $450 million.
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