PHL
Jul 23, 01, 4:50 pm
I can't believe I beat doc to a news link!
http://biz.yahoo.com/rf/010723/n23306056.html
WASHINGTON, July 23 (Reuters) - The U.S. Justice Department's ruling on United Airlines' bid to buy US Airways Group Inc (NYSE:U - news)., could come as early as this week, the Washington Post reported on Monday.
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Executives from the two airlines and DC Air, which would be created as part of the merger, were to meet on Monday with Justice Department officials, the Post reported, citing sources close to the deal.
Deputy Attorney General R. Hewitt Pate, who is overseeing the proposed union within the antitrust division was among the senior Justice Department officials expected to attend the meeting, according to the newspaper.
The report said the airline executives were expected to outline what they believe are the deal's competitive benefits and to discuss proposed anti-competitive remedies that would address antitrust concerns.
United's parent company, UAL Corp (NYSE:UAL - news)., and US Airways announced July 12 that they would request a final determination of whether the antitrust division would oppose the deal.
United Airlines, the No. 2 U.S. air carrier, said it recently proposed to US Airways that their agreement be scrapped before an agreed walk-away date, but US Airways rejected this idea, calling for the U.S. Department of Justice to make a final decision on the proposal.
Both airlines said they had provided the U.S. Department of Justice with the 21 days advance notice required for a determination of the department's position on the proposed deal.
http://biz.yahoo.com/rf/010723/n23306056.html
WASHINGTON, July 23 (Reuters) - The U.S. Justice Department's ruling on United Airlines' bid to buy US Airways Group Inc (NYSE:U - news)., could come as early as this week, the Washington Post reported on Monday.
ADVERTISEMENT
Executives from the two airlines and DC Air, which would be created as part of the merger, were to meet on Monday with Justice Department officials, the Post reported, citing sources close to the deal.
Deputy Attorney General R. Hewitt Pate, who is overseeing the proposed union within the antitrust division was among the senior Justice Department officials expected to attend the meeting, according to the newspaper.
The report said the airline executives were expected to outline what they believe are the deal's competitive benefits and to discuss proposed anti-competitive remedies that would address antitrust concerns.
United's parent company, UAL Corp (NYSE:UAL - news)., and US Airways announced July 12 that they would request a final determination of whether the antitrust division would oppose the deal.
United Airlines, the No. 2 U.S. air carrier, said it recently proposed to US Airways that their agreement be scrapped before an agreed walk-away date, but US Airways rejected this idea, calling for the U.S. Department of Justice to make a final decision on the proposal.
Both airlines said they had provided the U.S. Department of Justice with the 21 days advance notice required for a determination of the department's position on the proposed deal.