[usconservative]

“What, exactly, was gained by disallowing this merger?”

Easy: the hastened demise of both.

Let's face one basic, economic fact: combining two companies that are already failing separately, on their own, will only prolong the pain experienced by their shareholders, employee's and creditors as the "new" company just swirls the drain longer driving up more debt.

Seen this act before, it never ends well.

[2001convSVT]

Perhaps, but I still would have like to let the merger go thru to let the new management team, try to save their drowning enterprises.