Shares of AirTran Airways AAI advanced after TransDigm Group Inc TDG announced its plans to purchase AAI.
AAI's shares jumped 59.12% to $7.24 at 10:13 am. TDG will buy AAI for $1.27 billion in cash.
AirTran Airways' shares rose 0.89% over the past month and lost 12.84% so far this year.
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