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Despite Delta's insistence that it will emerge from bankruptcy as a stand-alone company, US Airways continues to move forward with its hostile bid for the company, applying pressure in the form of conference calls, media sound bytes and appeals to Delta's creditors. dalrq On a conference call yesterday, US Airways CEO Doug Parker called Delta's self-valuation of as much as $12 billion "out of whack." Parker sites different accounting methods for the discrepancy in valuation - US Airways insists its rival is worth no more than $6.9 billion despite offering to pay $8.4 billion in a hostile takeover bid. Delta responded with a statement of its own: "Nothing we heard today explains away the fact that the US Airways proposal provides inferior value to our stand-alone plan, is structurally flawed, and raises overwhelming regulatory and labor issues that." US Airways continues to insist regulatory issues are manageable and adds its takeover can save Delta nearly $1.65 billion annually. Delta shares closed up 5.74% in trading yesterday.

• Sources: US Airways Conference Call on Delta Merger [audio - Jazz filler followed by conference call at 36:45 mark]. Reuters, AP/MSN, Wall Street Journal, TheStreet
• Related commentary: Delta Air Lines + Scripophily = $1.38 per share, Delta Will Go To $0, Merger Mania Grips the Airlines, Delta Tries to Trump US Airways Buyout Through Bankruptcy, US Airways Surprises Delta With Hostile Bid
• Potentially impacted stocks and ETFs: US Airways (LCC), Delta Air Lines (DALRQ.PK). Competitors: AMR Corp. (AMR), Continental Airlines Corp. (CAL), Southwest Airlines Co. (LUV), JetBlue Airways Corp. (JBLU), UAL Corp. (UAUA), AirTran Holdings Inc. (AAI).

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Source: War of Words Between Delta and US Airways Intensifies