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04.03.2024 16:11:39
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Spirit Airlines Sinks On Cancellation Of Merger Agreement With JetBlue
(RTTNews) - Shares of Spirit Airlines, Inc. (SAVE) are falling more than 14 percent Monday morning after the airliner announced cancellation of its merger agreement with JetBlue Airways. In January, a U.S. court had blocked the deal on anti-competition concerns.
"we concluded that current regulatory obstacles will not permit us to close this transaction in a timely fashion under the merger agreement," said Ted Christie, Spirit's President and Chief Executive Officer."
SAVE, currently at $5.71, has traded in the range of $4.04 - $19.69 in the last 1 year.
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