American Airlines and US Airways Merger Allowed by Justice Department

Published 11/12 2013 10:52AM

Updated 11/12 2013 10:57AM

Developing: U.S. Airways (LCC) and AMR have reportedly reached an antitrust settlement with the U.S. regarding their $11 billion highly-debated merger.

The agreement, which ends a three-month investigation by the Department of Justice, calls for certain slots to be divested, according to Reuters citing court documents.

Shares of U.S. Airways climbed about 3.5% in recent trade to $24.07. Its shares were halted earlier for the news.

The DOJ in August claimed that the merger would have far-reaching implications for the industry. It filed a lawsuit to block the deal on anti-trust grounds, though it did say it would be open to a settlement.

Read more: http://www.foxbusiness.com/industries/2013/11/12/report-amr-us-air-to-settle-anti-trust-suit-over-merger/

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