Reuters: Regulatory News: UPDATE 1-DOJ seeks additional details on American-US Airways deal

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-DOJ seeks additional details on American-US Airways deal Mar 5th 2013, 02:03 Mon Mar 4, 2013 9:03pm EST March 4 (Reuters) - The U.S. Department of Justice is seeking additional details of AMR Corp and US Airways Group Inc's proposed $11 billion merger which aims to create the world's largest airline. The companies said they expect to respond promptly to the "second request" from the Justice Department and they continue to expect the deal to be completed in the third quarter of 2013. So-called "second requests" are quite common in anti-trust reviews of deals. The Justice Department has rarely challenged an airline merger in recent years. The last one to be challenged was a proposed United-US Airways deal in 2000-2001. However, to preserve competition, U.S. antitrust regulators typically require airlines to sell overlapping routes before approving a merger. The DOJ did not return a call seeking comment. The tie-up -- the fourth major merger in the U.S. airline industry since 2008 -- is expected to create the world's largest airline, with 6,700 daily flights, making the merged company two percent larger than current No. 1, United Continental Holdings in terms of traffic.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions