UAL, which owns United Airlines, slid 2 1/8, to 146, and Delta Air Lines fell 1, to 54 5/8.

The board of Allegis, which owns United Airlines, decided to pay shareholders $60 a share in cash while letting them keep their stock.

Coniston said it still thought the best course was to sell the company, which owns United Airlines, to management and the unions.

In some ways, the UAL Corporation, which owns United Airlines, does not seem a particularly attractive takeover target.

Chicago-based UAL owns United Airlines, the nation's second-largest carrier.

UAL owns United Airlines, the biggest carrier in the country.

Through such a move, UAL, which owns United Airlines, would borrow money to buy back a large chunk of its 21 million outstanding shares.

UCH owns and operates United Airlines, Inc.

Allegis, which owns United Airlines, bought Hertz in 1985 for $587.5 million as part of a now-abandoned strategy to offer a complete range of travel services.

UAL, which owns United Airlines, tried to merge with US Airways but was stopped last year by antitrust regulators.