Dr. Frost said the merger faced opposition from three significant shareholders.
Because the banks currently compete in so many states, the merger may face particularly close scrutiny from antitrust officials.
While the merger has faced some rough patches, that campaign, by all accounts, was second to none.
The merger, which is expected to be completed in December, faces a number of future hurdles.
The merger was spurred by problems both clubs faced concerning their home grounds.
But company officials and analysts do not expect the proposed merger to face major regulatory obstacles.
As in the United States, any such merger would face intense regulatory scrutiny.
Since both carriers serve mostly markets in the East, overlapping in some cases, such a merger could face tougher scrutiny than others.
The mergers face much greater opposition in Europe, according to the survey.
Pricing the service is only one of many commercial and operational challenges the merger would face.