Merger | featured news

A judge on Wednesday approved AMR Corp's plan to merge with US Airways Group , a step toward creating the world's largest airline. AMR, parent of American Airlines and in bankruptcy since November 2011, must still construct a formal restructuring plan incorporating the merger that meets court and creditor approval before the airline can emerge from bankruptcy.

Office Depot Inc. and OfficeMax have agreed to merge in an all-stock deal that would transform the $21.2 billion office supply retail sector. U.S.-based Office Depot Inc. and OfficeMax say holders of OfficeMax shares will receive 2.69 shares of Office Depot for every OfficeMax share they own.

Office Depot Inc , the No.2 U.S. office supply retailer, is in advanced talks to merge with smaller rival OfficeMax Inc and a deal could come as early as this week, a person familiar with the matter said on Monday.

American Airlines and US Airways will merge and create the world's biggest airline. The boards of both companies approved the merger late Wednesday, according to four people close to the situation.

Education and publishing group Pearson Plc and Germany's Bertelsmann said on Monday they have agreed to combine their publishing divisions, Penguin and Random House, with Bertelsmann holding the upper hand in the new entity.

T-Mobile and MetroPCS have agreed to combine their struggling cellphone businesses in a deal aimed at letting them compete better with their three larger rivals. The combined company will use the T-Mobile brand and have 42.5 million subscribers.

The exchange operators extended the deadline for completing their planned tie-up to March 31 while European competition authorities continue an in-depth probe of the deal.

AT&T acknowledged that it could not overcome opposition from the Obama administration to creating the nation’s biggest cellphone service provider. The company said in a statement that it would continue to invest in wireless spectrum, but could not overcome resistance from both the Justice Department and the Federal Communications Commission. It added that American wireless customers “will be harmed and needed investment will be stifled” by the regulators’ decisions.

AT&T and T-Mobile on Monday asked a federal judge to postpone an antitrust lawsuit as the companies were assessing “whether and how” to proceed with their $39 billion mega-merger. The announcement signals that the deal as originally conceived is all but dead. The two companies could still seek ways to retool the terms to address the concerns of regulators.

AT&T said it would take a $4 billion charge in case its takeover of T-Mobile USA fails, a tacit recognition of the dwindling chances that the deal will get through U.S. regulators who say it would destroy jobs and curb competition.