Shares of AirTran Holdings Inc. were up sharply pre-market as Southwest airlines announced it would buyout all of AirTran's shares for $7.69/share. This represents a value of nearly $1.04 billion. AirTran's shares were trading 60% higher in the pre-market Monday morning.
This acquisition is expected to add to Southwest's earnings in the first year after closing the deal. Southwest shares were trading slightly lower following this announcement.
