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United and Continental Airlines have been
notified by the Antitrust Division of the United States Department
of Justice of the termination of its Hart-Scott-Rodino Act review
and the closing of its investigation of the airlines’
pending merger.
“We are pleased to have achieved this critical
milestone and look forward to our respective stockholders’ votes
next month, following which we expect to be on track to close our
merger by October 1st,” said Glenn Tilton, UAL Corporation
chairman, president and CEO. “The combination of United and
Continental will create a world class airline, which will deliver
an industry leading network for our customers and the communities
we serve, career opportunities for our people, and value and
return for our stockholders.”
Continental and United expect
to close the merger by 1 October 2010, subject to stockholder
approvals and customary closing conditions. Both companies have
scheduled special stockholder meetings on 17 September 2010, for
approval of the merger.
United and Continental received
clearance from the European Commission on the airlines’ proposed
merger in July, which noted its investigation found the
transaction would not raise competitive concerns in Europe or on
trans-Atlantic routes.
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