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The board of Trans World Airlines recessed a meeting Tuesday without making a decision on competing takeover bids for the carrier from Texas Air Corp. and investor Carl Icahn. Texas Air offered $26 a share in cash and securities for the airline last week, four days after Icahn, who already owns 45.5 percent of TWA`s common stock, bid $24 a share in cash and stock. The TWA statement released after the meeting said its board ”was pleased” that Texas Air had raised its bid. No other TWA board meetings have been scheduled, a spokesman said.
