JetBlue and Spirit Airlines Announce Merger Plan

JetBlue Airways and Spirit Airlines announced Thursday that they had agreed to a merger, a day after a long-running bid for Spirit by Frontier Airlines fell apart.

Under the agreement, JetBlue would acquire Spirit for $33.50 per share in cash, significantly more than Spirit’s closing price of $24.30 on Wednesday. The deal values Spirit at about $3.8 billion.

The combination would create the fifth-largest carrier in the United States. But it is likely to face antitrust scrutiny from the federal government.

Article source: https://www.nytimes.com/2022/07/28/business/jetblue-spirit-merger.html