I don't believe they do. The bankruptcy court and creditor's committees hold the real power. Now we see just why AA was so adamant about staying out of bk, you really do lose control of your company. With a 25% premium it's almost guaranteed that the unsecured creditors will be heavily in favor of this hostile takeover attempt, and the judge is bound to protect the creditors thus he'll approve it as well. DOJ is probably the biggest hurdle here and I'm sure they're willing to do adequate carve-outs to appease them.