Ok while you guys argue about who acquired who, the truth was made obvious recently when the pay stubs were revealed. It was all about the deal! Tilton, his senior managers, and even Jeff made the deal to cash in. Nothing more nothing else.
Now as far as "equals" UAL Inc. brought the cash to the deal which made it happen. With out the money CAL would have filed bk and UAL would be swallowed up and sold off in pieces to the highest bidder.
So, since the UAL Senior management wanted out and Jeff wanted to be King, would you expect anything else than painting the planes in CAL colors and writing UNITED on the side since? It was UAL money which made it happen and CAL managers left holding the reigns.
Lighted up guys, it's not about you at all, it's all about Tilton and Jeff, they are getting what they seek.