Southwest to buy AirTran for 1.4 billion
Southwest Airlines plans to acquire AirTran Holdings for $1.4 billion, the airlines said on Monday.
Southwest (LUV, Fortune 500) said the deal values AirTran at $7.69 per share, a 69% premium over AirTran's closing price of $4.55 on Friday. AirTran's (AAI) stock surged 60% to $7.24 at the start of trading, while Southwest rose 4%.
Southwest chief executive officer Gary Kelly said the deal will allow his airline to expand into airports serving major hubs like Atlanta, Washington D.C., Boston, Baltimore and New York City.
Source: Southwest to buy AirTran for 1.4 billion
Southwest (LUV, Fortune 500) said the deal values AirTran at $7.69 per share, a 69% premium over AirTran's closing price of $4.55 on Friday. AirTran's (AAI) stock surged 60% to $7.24 at the start of trading, while Southwest rose 4%.
Southwest chief executive officer Gary Kelly said the deal will allow his airline to expand into airports serving major hubs like Atlanta, Washington D.C., Boston, Baltimore and New York City.
Source: Southwest to buy AirTran for 1.4 billion
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