Southwest Airlines announced Monday it has agreed to acquire AirTran Airways. Photo: By Rob Finlayson. Southwest Airlines on Monday morning announced an agreement to acquire Orlando-based AirTran Airways for $1.4 billion in cash and Southwest common stock in a deal that brings together the world's largest LCC with the third largest LCC in North America. Under the terms of the transaction, each share of AirTran common stock will be exchanged for $3.75 in cash and 0.321 shares of ...

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