00:00It's Benzinga, bringing Wall Street to Main Street
00:02American Airlines rejected reports of a potential merger with United Airlines in a statement
00:07released Friday after markets closed, according to CNBC. The company said it is not engaged in
00:13discussions and stated a deal would harm competition and consumers in conflict with
00:17antitrust principles. Shares fell nearly 3% in pre-market trading on Monday, reversing gains
00:23from a broader rally on Friday. United CEO Scott Kirby raised the idea of a merger with the Trump
00:29administration in February and has considered it since last fall. A combined company would be the
00:35world's largest airline and face regulatory scrutiny, as the two carriers would control
00:40about 40% of domestic capacity. A Cornell law professor said the merger would be the largest
00:45ever and that he sees no chance a court would approve it. For all things money, visit Benzinga.com.
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