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Milwaukee, Wis.

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.

(Copyright 2007 by The Associated Press. All Rights Reserved.)