For several weeks starting in June 1978, Texas International Air had acquired shares of National Airlines, filing documents with the U.S. Securities and Exchange Commission when its stake reached just short of the 10% that would require prior approval of the Civil Aeronautics Board (CAB). TIA was reported at the time to be studying the "possibility of seeking control" of National. Several weeks later, TIA announced intentions to buy up to 25% of National's stock, and requested approval from the CAB to acquire the stock and direct control of National. TIA's attempted takeover of the much larger National "surprised a lot of people", because National was so much larger than TIA at the time and no airline had ever attempted an "unfriendly" takeover of another airline before. Lorenzo's management team viewed National's stock as significantly undervaluing the assets of the company, and the move was financial in addition to being strategic and aimed at combining the routes of the two airlines.