Source: Forbes
“The U.S. federal government is poised to block JetBlue’s $3.8 billion merger with Spirit Airlines, according to several reports Monday, sending both companies’ stocks swinging and preventing what would be the country’s fifth-largest airline as Spirit’s messy saga to find a strategic partner drags on. The Justice Department could file an antitrust lawsuit against the transaction as soon as Tuesday, Bloomberg reported, citing sources familiar with the legal proceedings. JetBlue CEO Robin Hayes confirmed his company believes a lawsuit is coming, telling the Wall Street Journal he expects the companies to ‘get sued by the DOJ this week’ and that prosecutors have their ‘minds made up’ about the merger.” (03/06/23)