JetBlue Airways and Spirit Airlines announced Thursday that they have agreed to a merger, a day after Frontier Airlines’ long-running bid for Spirit fell through.
under the agreement, JetBlue will acquire Spirit for $33.50 per share in cash., well above the Spirit’s closing price of $24.30 on Wednesday. The deal values Spirit at approximately $3.8 billion.
The merger will create the fifth largest airline in the United States. However, they are likely to face antitrust investigations from the federal government.
This is breaking news. Please check the latest information.
