WSJ saying lcc/amr were hoping for DOJ's "blessing" of merger before 8-15 BK judge's expected approval of merger plan. I and others on this board have been following merger news daily and I cannot recall any comments by management/analysts or anyone else that before 8-15 was any kind of target date for a DOJ decision. Parker et al did not say this at the 2Q CCall a few weeks ago and not one analyst at the ccall asked when a DOJ decision was expected. My clear understanding is that the DOJ would be the LAST merger hurdle after the BK judge's approval of the merger plan.
Like to know if anyone on this board understood that DOJ was going to decide on merger before 8-15...I do not recall any posts to that effect..really feel totally blindsided by this DOJ decision. Classic case of everyone ignoring the big Gorilla in the room imo...
Per DOJ: "The Airlines notified the Department of Justice of their intent to merge on January 31, 2013, and they requested that the Department make its enforcement decision prior to this Court’s August 15, 2013, hearing on confirmation of the Plan. "
DOJ and LCC/AMR especially were both derelict in not making this request public...and of course it was stupid for lcc/amr to make such a request considering they are now fighting for the BK court to confirm the plan. I am still not aware of anyone in the media , analysts etc who ever mentioned such a request, maybe it was in the merger announcement. Talk about critical investor information being withheld and/or overlooked this one was a doozy... I do not see this so much as a black swan type event but more as backstabbing of investors by the DOJ and the airlines.
I agree, merger is unlikely imo, if deal could be made it would have been made already. Surprised Socialist barack/eric didn't look after their union brothers...guess they don't even want them to make money..