Sabre and Farelogix have terminated their merger agreement, as the Thursday deadline for the deal passed.
The acquisition had faced opposition by regulators, a complication compounded recently by the financial blow of the Covid-19 crisis. "We continue to believe that the transaction was not anti-competitive, a result confirmed by the U.S. federal district court's decision in Sabre's favor," Sabre president and CEO Sean Menke said in a statement. "Unfortunately, the United Kingdom's Competition and Markets Authority (CMA) – acting outside the bounds of its jurisdictional authority – has prohibited the transaction."
Per the agreement, Sabre faced up to $25 million in break-up fees, though it did not disclose how much of that it had to pay to Farelogix.