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Market Overview

JetBlue, Alaska Air Battling For Virgin America Buyout


Shares of Virgin America Inc (NASDAQ: VA) surged last week on reports that the company was considering buyout offers. While the identities of potential buyers were not revealed at the time, Buckingham analyst Daniel McKenzie saw JetBlue Airways Corporation (NASDAQ: JBLU) as the only logical buyer.

Related Link: JetBlue Seen As The 'Only' Logical Acquirer Of Virgin America, May Be Forced Into Deal

On Monday, Virgin America was on the rise again, as new reports said the company had received takeover offers from JetBlue and Alaska Air Group, Inc. (NYSE: ALK). Bloomberg reported that the carrier backed by famed billionaire Richard Branson is in discussion by both companies, and that a deal could be made public next week.

Shares of Virgin America were trading up 10 percent on Monday. JetBlue and Alaska Air also posted gains of 2.5 and 0.75 percent, respectively.

Spokespeople from the acquiring companies denied comment on rumors or speculation.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.


Related Articles (JBLU + VA)

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