$1 for 4 weeks. The spread between the offer price for Virgin America and its share price widened to $3.80 Thursday the widest since the deal was announced, showing that investors are more worried about the deals prospects. Virgin America stock fell the most in seven months Thursday, dropping 4.4 percent to $53.20 Thursday. Alaska Air stock slipped 1 percent to $66.04. It was unclear whether the companies have offered to sell assets to resolve the departments concerns or whether they may agree to extend their deadline. The airlines argue that by combining they will be a more effective competitor to the biggest carriers in the U.S., one of the people said. We still expect the merger to close in the fourth quarter, as we always have, said Dave Arnold, a spokesman for Virgin America. Spokespeople for Alaska and the Justice Department declined to comment. Alaskas agreement to buy Virgin America, announced in April , would extend a round of consolidation that has shrunk the number of carriers in the U.S. airline industry since 2005, leaving the top four operators controlling 80 percent of the market. This is the first substantial airline-merger proposal since the Justice Department sued to block US Airways Groups takeover of American Airlines in 2013, a case that ultimately was settled after the carriers agreed to sell airport assets to low-fare competitors.
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The Federal Bureau of Investigation said there was no indication that the shootings were linked to a radical group. Police declined to identify the suspect, but local media reported that he shot at vehicles from a black Porsche registered to Nathan DeSai. Public records showed that DeSai lived in a condominium near the shooting scene and that he had no criminal record. DeSai, who received his law degree from the University of Tulsa in 1998, started a small law firm but his former law partner, Ken McDaniel, said they closed it about six months ago. McDaniel told local television the shooting was "out of character" for DeSai. Houston Mayor Sylvester Turner, in Cuba to develop trade relations, told reporters, "The motivation appears to be a lawyer whose relationship with his law firm went bad." Prakash DeSai told ABC television's Houston affiliate that his son drove a black Porsche, and that he was "upset about his law practice not going well" and money woes. Police said the suspect was dressed in a military-style uniform and that military paraphernalia that included Nazi items was found in his possession. The police bomb squad secured the shooter's car, which contained more than 2,600 rounds of ammunition. Police said a handgun was found on the suspect's body and a rifle was found in this car. An agent for the Bureau of Alcohol, Tobacco, Firearms and Explosives said the firearms had been legally purchased. Christopher Miller, who lives near the site of the shootings, said he watched much of it from his apartment.
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