American Airlines and US Airways Merger Allowed by Justice Department

American Airlines and US Airways Merger Allowed by Justice Department

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