News Summary (TDG, LUV, AAI)
Shares of TransDigm Group Inc (NYSE: TDG) gained after the company announced its plans to purchase McKechnie Aerospace Holdings Inc for $1.27 billion in cash. TDG's shares gained more than 3% following the announcement.
Petroleum and natural gas producers' shares moved up slightly today. The NYSE Arca Oil Index (XOI) rose about 0.03%, while the NYSE Arca Natural Gas Index (XNG) gained about 0.14%. The Philadelphia Oil Service Index (OSX) moved up about 2.49%.
Southwest Airlines (NYSE: LUV) has agreed to acquire AirTran Airways (NYSE: AAI) for around $1.4 billion, or $7.69 per share, representing a 69% premium to AAI's closing price on Friday. LUV's shares rose about 4%, while the shares of AAI surged about 58%.
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