updated 8/27/2010 6:10:46 PM ET 2010-08-27T22:10:46

The Justice Department says it has closed its investigation into the proposed merger of UAL Corp. and Continental Airlines Inc.

Friday's announcement follows an agreement by United and Continental to transfer takeoff and landing slots and other assets at Newark, N.J., Liberty Airport to Southwest Airlines Co.

The department says the proposed merger would combine largely complementary networks of the two airlines, resulting in overlap on a limited number of routes. The deal with Southwest resolves the Justice Department's main concerns over competition.

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