DOJ To Eye $3B United-Continental Merger

Law360, New York (May 4, 2010, 1:48 PM EDT) -- The U.S. Department of Justice's Antitrust Division will review the proposed $3 billion merger of UAL Corp.'s United Air Lines Inc. and Continental Airlines Inc., a deal that would create the world's largest airline.

A DOJ representative confirmed that antitrust regulators would look at the competitive effects of the deal, which was announced Monday.

Under the terms of the all-stock transaction, in which United will buy Continental, United will issue 1.05 shares for each Continental share, valuing the acquisition at $3.17 billion, based on Friday's closing...
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