United, Continental Win DOJ Merger OK With Slot Sale

Law360, New York (August 27, 2010, 6:47 PM EDT) -- The U.S. Department of Justice signed off on Continental Airlines Inc.'s proposed $3 billion merger with UAL Corp.'s United Air Lines Inc. on Friday after the carriers agreed to lease 18 pairs of takeoff and landing slots at Newark Liberty International Airport to Southwest Airlines Co.

The companies said Friday that they would lease the slots at both peak and off-peak times to appease the DOJ's competition worries over the planned deal, which has proved controversial among lawmakers, consumers and shareholders.

The antitrust watchdog's four-month investigation...
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