Midwest shareholders approve sale

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(AP) - A majority of Midwest Air Group's shareholders Tuesday approved a $450 million buyout by private equity firm TPG Capital.

Shareholders approved the sale at a special meeting in the company's hometown of Milwaukee.

The sale is still under antitrust scrutiny because the deal includes rival Northwest Airlines as a passive investor. Northwest's stake in the airline would be 47 percent.

Midwest agreed in August to be bought by TPG Capital for $17 a share in cash. It has about 26.6 million shares outstanding. The TPG deal follows months of escalating offers from rival AirTran Holdings, the Florida based operator of AirTran Airways.

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