Merger

Spirit Airline’s board of directors has rejected JetBlue’s bid to acquire the airline and will proceed with its existing merger agreement with Frontier, one of its ultra-low-cost competitors, Spirit announced in a press release. A deal with JetBlue has “a low probability of receiving antitrust clearance” and poses “an unacceptable level of closing risk” to its shareholders, Spirit notes. After Frontier first announced its plans to buy Spirit in a cash and stock deal valued at $2.9 billion in February, JetBlue followed…

Hubble Space Telescope, a joint project by NASA and the European Space Agency (ESA), has been witnessing mysterious events in the Universe for over three decades. It recently captured a stunning image of a triple galaxy merger in progress some 681 million light-years away from Earth, in the Cancer constellation. The image also shows a tumultuous mixture of star formation and tidal distortions caused by the gravitational interactions of the galactic trio. At the centre, the image is obscured by a thick cloud of dust, but…

Chinese tech giant Tencent will close its game streaming platform, less than a year after authorities blocked a merger that would have powered its drive to take on Amazon's Twitch.Beijing has stepped up scrutiny over big tech, launching a major crackdown on some of the biggest names in the sector, while the gaming market has also taken a hit owing to tighter controls on play time for minors.Tencent's service, Penguin Esports, has halted new user registrations and in-app purchases, and will shut down all services on June…