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JetBlue Airways and Spirit Airlines on Monday said they were terminating their merger agreement weeks after losing a federal antitrust lawsuit that challenged the deal.. A federal judge blocked ...
JetBlue Airways and Spirit Airlines are ending their proposed $3.8 billion merger weeks after a federal judge blocked the deal, saying it would hurt consumers who depend on Spirit's lower fares.
Last week JetBlue had previously warned that it might terminate the agreement. Shares of JetBlue Airways Corp. rose more than 5% before the market opened, while Spirit's stock slipped more than 13%.
After a federal judge blocked the deal, ruling it would hurt competition, JetBlue said both airlines still believe in the merger's benefits but are terminating the deal.
Under the merger agreement, JetBlue must pay $33 for each share of Spirit stock. Spirit's stock price was $6.30 at the start of business Monday, Feb. 5. JetBlue filed a statement with regulators ...
The JetBlue-Spirit merger is dead.. Both airlines announced Monday they are calling off the $3.8 billion deal, just eight days after they had filed a legal brief seeking to overturn a court ...
JetBlue said it will pay Spirit $69 million to finalize outstanding matters related to the transaction. Spirit Airlines said it will look to restructure its debt following the failed merger in ...
JetBlue Airways warned that it may end its bid to acquire low-cost carrier Spirit Airlines as soon as this weekend after a federal judge blocked the deal, sending Spirit shares sharply lower Friday.