Navigate this market better. Subscribe for FREE stock alerts and information.

Friday, April 25, 2014

American Airlines merger settlement approved by US judge, (NASDAQ: AAL)

A federal judge on Friday approved the November settlement between the U.S. government and the airlines that merged to form American Airlines Group, the world's biggest carrier. U.S. District Judge Colleen Kollar-Kotelly said the settlement, which required American to sell takeoff and landing rights at airports in the New York and Washington areas and airport gates in five other cities, was "within the reaches of the public interest." She said a hearing was not needed.In August, the U.S. Justice Department sued to block the merger of AMR Corp and US Airways, saying it would hurt consumers by leading to higher airfares. Several states including Arizona and Texas joined the lawsuit, filed in U.S. District Court for the District of Columbia.American and US Airways reached an agreement settling the lawsuit in November, and the merger was completed in December.In her opinion, Kollar-Kotelly stated the U.S. government's position that divestitures to low-cost carriers would reduce anti-competitive effects of the merger was "entitled to the Court's deference."

Anglo American plc (Anglo American) is a mining company. Shares of AAL fell by 3.38% or $-1.26/share to $36.00. In the past year, the shares have traded as low as $15.28 and as high as $39.88. On average, 11274700 shares of AAL exchange hands on a given day and today's volume is recorded at 9574302.



Source