"Judge Blocks JetBlue's Acquisition of Spirit Airlines, Sending Shares Plummeting"
TL;DR Summary
Spirit Airlines shares plummeted 47% after a federal judge blocked JetBlue's $3.8 billion acquisition, citing concerns about increased fares and significant debt for JetBlue. The US Justice Department sued to halt the deal, emphasizing the need for greater competition in the airline industry to lower costs for consumers. The Biden administration has taken a more aggressive approach in fighting mergers, including in the airline industry, and the ruling is seen as a victory for consumers.
- Spirit Airlines shares plunge after judge blocks JetBlue merger CNN
- Judge blocks JetBlue-Spirit merger after DOJ's antitrust challenge CNBC
- US judge blocks JetBlue from acquiring Spirit Airlines Yahoo Finance
- Federal Judge Blocks JetBlue-Spirit Merger Over Fears of Eliminating Competition - WSJ The Wall Street Journal
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