Nordstrom family offers $3.8B to take upscale retailer private
The Nordstrom family has offered $3.8 billion to take the company private, a sharp drop from the offer they made six years ago as mall traffic dwindled and department stores continued to take a hit. Brothers Eric Nordstrom, CEO and Pete Nordstrom's president, are partnering with Mexican department store chain El Puerto de Liverpool to […]
Koch family’s 15% stake in Nets values struggling NBA team at $3.8B: source
The Koch family’s acquisition of a 15% stake in Brooklyn Nets parent company BSE Global values the struggling NBA franchise at $3.8 billion and the parent company at $5.8 billion, The Washington Post has learned. Julia Koch – widow of David Koch, she is one of the richest women in the world with an estimated […]
JetBlue, Spirit call off $3.8B merger after losing antitrust suit
Low-cost airlines JetBlue and Spirit halted their $3.8 billion merger plan on Monday, weeks after a federal judge blocked the merger citing anticompetitive concerns. A successful deal would have created the fifth largest airline in the United States and ensured Spirit’s survival. “While both companies continue to believe in the pro-competitive benefits of a merger, […]
Spirit shares sink after JetBlue casts doubt on $3.8B merger
JetBlue Airways on Friday expressed doubts about completing its $3.8 billion merger with Spirit Airlines, saying it may not meet certain conditions required as part of the deal by deadline. Spirit's stock price fell 17% after the announcement, adding to a loss of about 55% this month sparked by a U.S. judge's effort to block […]
JetBlue, Spirit Airlines to appeal judge’s ruling that blocked $3.8B merger
JetBlue Airways and Spirit Airlines announced Friday that they will appeal a federal judge's ruling that blocked the airlines' planned merger, saying it violated U.S. antitrust laws. The appeal comes after U.S. District Judge William Young in Boston ruled Tuesday that JetBlue's $3.8 billion plan to acquire ultra-low-cost airline Spirit was anticompetitive and would harm […]
JetBlue blocked from acquiring Spirit Airlines in $3.8B deal
A federal judge on Tuesday blocked JetBlue Airways' $3.8 billion plan to buy ultra-low-cost carrier Spirit Airlines based on an agreement with the Justice Department that the deal would reduce the availability of cheap flights. of ruling The ruling by U.S. District Judge William Young in Boston marks a victory for the Biden administration in […]
Federal judge blocks $3.8B merger of Spirit, JetBlue
A federal judge on Tuesday blocked JetBlue Airways' proposed $3.8 billion takeover of Spirit Airlines, saying it would reduce competition and harm consumers. U.S. District Judge William Young said in a court filing Tuesday that the acquisition, which would make JetBlue the fifth-largest airline, “complies with the Clayton Act, which is designed to prevent anticompetitive […]