JetBlue – Spirit Trial Completes Third Week – Merger Arbitrage Mondays
Key Highlights
- Spirit Airlines shares surged more than 19% at the conclusion of the third week of the DOJ trial seeking to prevent the sale of the company to JetBlue Airways.
- Timber Pharmaceuticals filed for Chapter 11 bankruptcy protection following the termination of the merger agreement by LEO Pharma due to insufficient stockholder votes.
- Rithm Capital completed the acquisition of Sculptor Capital Management.
Spirit Airlines Inc. (SAVE) $12.43
Market Cap: $1.36 billion
Enterprise Value: $7.03 billion
The DOJ’s trial to block the sale of Spirit (SAVE) to JetBlue (JBLU) kicked off in Boston on October 31st before Judge William Young.
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