Spirit Airlines Stock Plummets Over 50% After JetBlue Deal Blocked
JetBlue(JBLU) Forbes·2024-01-17 02:37
ToplineSpirit Airlines’ stock plunged as much as 60% on Tuesday following news that a federal judge blocked its $3.8 billion acquisition at the hands of JetBlue Airways, scoring a win for the Justice Department, which sued JetBlue last year to stop the acquisition on antitrust grounds.The merger was first announced in July 2022. (Photo by Smith Collection/Gado/Getty Images)Gado via Getty ImagesKey FactsU.S. District Judge William G. Young said the proposed acquisition of Spirit would have eliminated the air ...