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U.S. Department of Justice Completes Antitrust Review of Continental and United
United Airlines and Continental Airlines announced they have been notified by the Antitrust Division of the United States Department of Justice (DOJ) 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.**
**The completion of DOJ*s review is an important step on our journey of creating the world*s leading airline, benefiting our customers, co-workers, communities and stockholders,** said Jeff Smisek, Continental*s chairman, president and CEO. **The DOJ*s decision permits us to clear one of the last regulatory hurdles to closing our merger.**
Continental and United also would like to acknowledge the efforts of the United States Department of Transportation and the Federal Aviation Administration as the companies work through the merger process. In addition, Continental and United remain engaged in discussions with the state attorneys general who are reviewing the merger, and hope to conclude those discussions expeditiously with a positive outcome.
Continental and United announced an all-stock merger of equals on May 3, 2010, and currently expect the transaction to close by Oct. 1, 2010, subject to stockholder approvals and customary closing conditions. Both companies have scheduled special stockholder meetings on Sept. 17, 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.
07.09.2010. 17:24 United-Continental Merger Receives Unconditional Clearance from the European Commission
United Airlines (NASDAQ: UAUA) and Continental Airlines (NYSE: CAL) today received unconditional clearance from the European Commission on the airlines* proposed merger. The Commission noted its investigation found the proposed transaction would not raise any specific concerns in Europe or the trans-Atlantic market.
**We are pleased to have received this clearance from the European Union, a significant market for our combined new company, and we continue to work cooperatively with the U.S. Department of Justice toward an expeditious completion of our merger, which will benefit our customers, our people, our shareholders and the communities we serve,** said Glenn Tilton, UAL Corporation chairman, president and CEO.
**Approval from the European Commission is another important step toward completing our merger with United,** said Jeff Smisek, Continental*s chairman, president and CEO. **The combination of United and Continental brings together the two most complementary networks of any U.S. carriers, with minimal domestic and no international route overlaps. Together we will offer customers unparalleled global access.**
The companies announced their plans for an all-stock merger of equals in May and expect the transaction to close in the fourth quarter of 2010.
22.08.2010. 13:41 New Visual Brand Identity For The New United Airlines United Airlines (NASDAQ: UAUA) and Continental Airlines (NYSE: CAL) today revealed refinements to the visual branding for the new global airline that will result from the proposed merger between the two airlines.
The new logo displays the combined company*s brand name in capital letters (UNITED) in a custom sans-serif font, joined with the global mark which has represented Continental*s brand image since 1991.
A corresponding update of the combined airline*s aircraft livery will adopt Continental*s livery, colors and design, including its blue-gold-white globe image on the tail, combined with the new-style UNITED name on the fuselage.
Both airlines have earned strong brand recognition in one of the world*s most visible and highly competitive businesses. The new visual identity builds upon the significant value of each airline*s current brand, while advancing the combined airline*s future brand image.
22.08.2010. 13:40 |
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