Argued Sept. 23, 1982.
Decided Nov. 19, 1982.
As modified on Denial of Rehearing Jan. 10, 1983

However, with acquisition, one firm (airline) takes over another and establishes its power as the single owner. Generally, the firm which takes over is the bigger and stronger one. The relatively less powerful, smaller firm loses its existence, and the firm taking over, runs the whole business with its own identity. Unlike the merger, stocks of the acquired firm are not surrendered, but bought by the public prior to the acquisition, and continue to be traded in the stock market.


AA acquired TWA on April 10, 2001.