Another way would be to draw (with the Pen) a third shape that overlaps the other two.
The new shape will need at least 6 anchors; 4 to coincide with those 4 that Larry highlights and 2 extra to complete the overlap.
Then select all three shapes and Pathfinder (panel) Unite.
I use a lot of different methods depending on the shapes (I can't see the rest of yours) but in this case I would use the first step Larry suggested for deleting these path segments, but then I would use the pen tool to click on each pare of points. Another alternative available in the newer versions is after the first step with deleting the segments is to select the two shapes with the the black pointer and press Ctrl + J a couple of times. Have in mind though that this will close any open segments in case you have them off screen.