JetBlue said it would pay Spirit $69 million to terminate the $3.8 billion deal, which had been blocked by federal antitrust regulators.
Category: Mergers, Acquisitions and Divestitures
FTC Sues to Block Kroger-Albertsons $24.6 Billion Grocery Store Merger
The regulator is trying to stop the largest supermarket merger in history, arguing that the deal would eliminate competition and raise prices for consumers.
Capital One Said to Be in Talks to Acquire Discover
The proposed deal would combine two of the largest credit card companies in the United States.
Adam Neumann Wants to Take Over WeWork
Adam Neumann, the co-working company’s onetime chief, has sought for months to buy the now-bankrupt business, but accuses its current leaders of stonewalling him.
PGA Tour Raises $1.5 Billion From Group of U.S. Investors
The move, which involves the Fenway Sports Group, raises questions about whether a deal to combine forces with Saudi Arabia’s sovereign fund is still necessary.
Spirit Airlines Is on Shaky Footing After Judge Blocks JetBlue Deal
Some investors and analysts said the airline might have to seek bankruptcy protection if it couldn’t find another buyer.
U.S. Steel Acquisition Proposal Tests Biden’s Industrial Policy
The president is under pressure from Democrats and Republicans to block the sale to Japan’s Nippon Steel, which could upset a key foreign ally.
How Elon Musk and Larry Page’s AI Debate Led to OpenAI and an Industry Boom
The people who were most afraid of the risks of artificial intelligence decided they should be the ones to build it. Then distrust fueled a spiraling competition.
Chasing Big Mergers, Oil Executives Dismiss Peak Oil Concerns
Exxon Mobil and Chevron are spending tens of billions of dollars buying oil and gas assets, betting that the International Energy Agency’s predictions of declining oil demand are wrong.
The Upshot of Microsoft’s Activision Deal: Big Tech Can Get Even Bigger
With the completion of the blockbuster acquisition, the notion that tech giants can grow through “vertical transactions” remains intact.