Executives from JetBlue ( NASDAQ: JBLU ) and Spirit Airlines ( NYSE: SAVE ) held a meeting with Justice Departments officials ahead of a potential lawsuit aimed at blocking the combination with the low-cost carrier.
The executives met with the DOJ on Wednesday, in what is known as a "last-rites" meeting, as the airline executives tried to convince the antitrust regulator to not block the deal, according to media reports from Politico and Bloomberg.
The regulator is expected to decide within the next few weeks whether it will challenge the deal, according to Bloomberg report on Friday. JetBlue ( JBLU ) has offered to divest Spirit ( SAVE ) assets in Boston, New York and some parts of Florida to help gain regulatory approval for the deal.
Politico earlier this month reported that the DOJ is likely to file a lawsuit to challenge the planned $3.8 billion takeover of Spirit Airlines ( SAVE ).
Spirit Airlines ( SAVE ) CEO Ted Christie said earlier this month that he expected to hear from the DOJ on the planned acquisition of low-cost carrier in the next 30 days. Christie said Spirit ( SAVE ) is waiting to see if the DOJ files a lawsuit to block the deal or allows it to proceed, he commented during the airliner's Q4 earnings conference call.
JetBlue ( JBLU ) agreed to a $3.8 billion acquisition of Spirit ( SAVE ) in late July after a long battle for the low-cost airline from rival Frontier ( ULCC ).
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JetBlue, Spirit executives held meeting with DOJ ahead of possible lawsuit - reports