Fred-

As you well know, 48 is not 60!

A 12 pt differential = skepticism

Yet the closing price for UA was only about 53!

Wall Street analysts pointed to several potential obstacles that could derail the deal. They listed labor discord, antitrust issues and the tough task of making the marriage work as potential pitfalls and cited previous failed airline consolidation efforts as proof of the difficulties that carriers face when they try to merge.
http://www.nytimes.com/00/05/24/news...24tsc-air.html



[This message has been edited by doc (edited 05-24-2000).]