According to a Reuters report, JetBlue and Spirit are seeking an expedited appeal aimed at reversing a lower court ruling that blocked the proposed $3.8 billion merger of the airlines. The airlines stated that the appeal should be expedited because the court may not have an opportunity to review the decision due to the outside closing date of July 24 of the merger agreement.
Spirit Airlines' stock nosedives following JetBlue's failure to meet merger deal terms, with potential termination looming in January 2024. Despite plans to challenge antitrust blockage, Spirit faces a 60% share value drop since the ruling.
Join Our Market Watch Newsletter!
Unlock Exclusive Market Insights! Receive timely updates on market developments. Sign up & stay informed!
Start typing to search
To view TrendSpider's complete data, please log into your TrendSpider account.