AMR’s Merger With US Airways Approved by Judge in N.Y.
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American Airlines parent AMR Corp. won approval for its merger with US Airways Group Inc. from a judge who also rejected a $20 million severance deal for Chief Executive Officer Tom Horton.
U.S. Bankruptcy Judge Sean Lane in Manhattan approved the merger at a hearing yesterday while denying approval for Horton’s severance following opposition from the U.S. government, which called the pay a “golden parachute.”