Pequot buys 9% stake in Midwest Air

By Jennifer Chiou

New York, Oct. 12 - Midwest Air Group, Inc. led by investor Pequot Capital Management, Inc. purchased 2,259,200 shares of the company's stock for a 9% stake in the company, according to a Schedule 13D with the Securities and Exchange Commission.

The investor purchased the shares from Sept. 13 to Oct. 4 at between $16.247 and $16.429.

Pequot paid about $31 million for the shares of the Milwaukee-based provider of jet service to primarily business travelers.

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