Pan Am Attracts Suitor
As 1980s corporate raider Carl C. Icahn pulled out of the bidding for bankrupt Pan Am, Miami investor Milan Mandaric stepped up Monday as a potential suitor for the airline.
Mandaric, until now a high-tech investor, met with Pan Am executives over the weekend and should have an offer ready by Friday. U.S. Bankruptcy Judge A. Jay Cristol wants quick action on the airline’s fate.
Mandaric recently moved from California’s Silicon Valley, where he ran computer circuit-board makers, to Fisher Island, a millionaire’s retreat across from the southern tip of Miami Beach.