JetBlue Airways Corp said on Monday it believes there is a 'high likelihood' the U.S. Justice Department will file an antitrust lawsuit this week to block its $3.8 billion takeover of low-cost rival Spirit Airlines Inc .
JetBlue said in a statement that it accounted for the possibility of a lawsuit when it provided a timeline to close the deal in the first half of 2024. The extended timeline gives the companies time to fight the government in court. The Transportation Department, which is also reviewing the deal, is expected to take parallel action to stop the planned transaction, Bloomberg News reported.JetBlue shares rose about 1% while Spirit shares tumbled almost 10% in late trading.
JetBlue Chief Executive Robin Hayes said on Monday he expected a government lawsuit to stop the deal and that the company would fight it, the Wall Street Journal reported.
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