Shares Soar as Spirit and JetBlue Appeal Ruling Blocking Merger
Shares of Spirit Airlines surged approximately 10% following the announcement that both Spirit and JetBlue plan to appeal a federal judge's ruling against their merger on antitrust grounds.
Federal Judge Blocks JetBlue's Acquisition of Spirit Airlines
A federal judge has put the brakes on JetBlue Airways' acquisition of Spirit Airlines, a deal valued at $3.8 billion, stating that it would negatively impact price-sensitive consumers by removing the discount carrier from the market.