AMR Corporation and US Airways announced (23-Sep-2013) an extension to their merger agreement, in light of the US Department of Justice's antitrust lawsuit against their merger. The amended merger agreement extends the date on which either party may terminate the agreement from 17-Dec-2013 to 18-Jan-2014, or, if the US District Court for the District Columbia enters and order on or before 17-Jan-2014 in favour of the carriers, on the 15th day following the entry of such an order. If the Court's order is against the carriers, either party may terminate the agreement five days after the Court enters a final, but appealable, order enjoining the merger. In a joint statement, AMR Corporation chairman, president and CEO Tom Horton and US Airways chairman and CEO Doug Parker said: "The Boards and management teams of AMR and US Airways remain committed to completing this combination to create the new American, and the extension of this outside date is a reflection of this commitment. Our focus is on mounting a vigorous defense and winning our court case so the new American can enhance competition, provide better service to our customers and create more opportunities for our employees." [more - original PR]
AMR Corporation and US Airways extend merger deadline to 18-Jan-2014
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