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United, US Airways Talking About How To Kill Their Deal.(INTERNET & TECHNOLOGY)
Byline: AP
United Airlines and US Airways said Monday that they are in discussions to abandon their planned $4.3 billion merger.
The announcement came after a source familiar with the approval said United is dropping the acquisition because the carrier is convinced the merger won't win regulatory approval.
"UAL Corp. and US Airways Group Inc. have confirmed that they are in discussions regarding the possibility of terminating the proposed merger between the two companies prior to the Aug. 1 termination date," the airlines said.
The carriers said they would make no further comment for the time being.
The source, speaking on condition of anonymity, said UAL-owned United informed US Airways on Friday that it wanted to discuss terminating the 13-month-old agreement. The person confirmed reports in several Monday papers, including the Chicago Tribune, The New York Times and USA Today.
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