Merger

Spirit and JetBlue planes at Fort Lauderdale-Hollywood International Airport (FLL) in Fort Lauderdale, Florida, US, on Wednesday, Nov. 1, 2023. Eva Marie Uzcategui | Bloomberg | Getty ImagesSpirit Airlines shares jumped about 10% Monday after the budget carrier and JetBlue said after the market closed on Friday they would appeal a federal judge's ruling blocking the airlines' planned merger on antitrust grounds."Our merger agreement with Spirit remains in effect and we still have obligations under the agreement...This is…

Sony Group has called off the merger of its Indian unit with Mumbai-based media company Zee Entertainment Enterprises, ending a yearslong effort to create a multibillion-dollar media powerhouse in the South Asian nation. Sony Group has called off the merger of its Indian unit with Mumbai-based media company Zee Entertainment Enterprises, ending a yearslong effort to create a multibillion-dollar media powerhouse in the South Asian nation. FOLLOW US ON GOOGLE NEWS Read original article here Denial of…

Sony called off the merger between its India unit and Zee Entertainment on Monday, ending a two-year acquisition deliberation that would have created a $10 billion media powerhouse in the South Asian market. Sony said in a statement that it has sent a termination letter to Zee after the Indian firm failed to meet the conditions, despite a 30-day extension. Sony said it was “extremely disappointed” that the Indian firm failed to meet the conditions. “The definitive agreements further provided…

Spirit and JetBlue planes at Fort Lauderdale-Hollywood International Airport (FLL) in Fort Lauderdale, Florida, US, on Wednesday, Nov. 1, 2023. Eva Marie Uzcategui | Bloomberg | Getty ImagesJetBlue Airways and Spirit Airlines on Friday appealed a federal judge's ruling issued earlier this week that blocks the two carriers' planned merger on antitrust grounds.JetBlue had planned to buy Spirit for $3.8 billion in a deal struck in the summer of 2022. A federal judge on Tuesday, however, barred that combination, saying it…

Alaska and Hawaiian Airlines planes takeoff at the same time from San Francisco International Airport (SFO) in San Francisco, California, United States on June 21, 2023.Tayfun Coskun | Anadolu Agency | Getty ImagesPresident Joe Biden's Justice Department has successfully had two airline link-ups halted in court in recent months. That doesn't necessarily spell doom for Alaska Air's plan to buy Hawaiian Airlines.U.S. District Court Judge William Young on Tuesday sided with the Justice Department and blocked JetBlue Airways'…

JetBlue Airways planes are seen near Spirit Airlines planes at the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on May 16, 2022.Joe Raedle | Getty Images News | Getty ImagesShares of Spirit Airlines fell about 23% Wednesday, its second day of double-digit losses, after a judge blocked its proposed merger with JetBlue Airways.Spirit is down roughly 60% since the decision blocking its $3.8 billion acquisition by JetBlue was handed down Tuesday, citing reduced competition. The combination…

LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York.Leslie Josephs | CNBCA federal judge Tuesday blocked JetBlue Airways' purchase of Spirit Airlines after the Justice Department sued to stop the merger, saying the deal would drive up fares for price-sensitive consumers by taking the discount carrier out of the market.JetBlue's proposed $3.8 billion purchase of discounter Spirit would have produced the country's fifth-largest airline, a deal the carriers had said would help them better…

Updated Jan. 16, 2024 5:13 pm ETA federal judge on Tuesday blocked JetBlue Airways’ $3.8 billion deal to buy Spirit Airlines, rejecting a merger that he said would hamper competition and lead to higher fares.The ruling thwarts what would have been the biggest U.S. airline merger in over a decade. It marks a victory for the U.S. Department of Justice, which sued last year to prevent JetBlue and Spirit from going ahead with their tie-up.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved.…

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Consolidation can be complicated Earlier this week, European micromobility companies Tier and Dott said they had agreed to merge. The companies, which offer scooters and bikes to rent, also plan to raise €60 million from some of their existing investors and plan to close the deal within two months. The companies hope they can become profitable if they work together, my colleague Romain reported. This seems like a solid outcome for the two startups, since they likely weren’t going to…