JetBlue strikes $3.8 billion deal to buy Spirit Airlines
JetBlue will acquire Spirit for $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable once Spirit stockholders approve the transaction.
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JetBlue will acquire Spirit for $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable once Spirit stockholders approve the transaction.
JetBlue Airways has agreed to buy Spirit Airlines for US$3.8 billion and create the nation's fifth-largest airline if the deal can win approval from antitrust regulators.
JetBlue's offer could spark a bidding war with Frontier Airlines, which previously offered to purchase Spirit Airlines.
The agreement Thursday capped a months-long bidding war and arrives one day after Spirit's attempt to merge with Frontier Airlines fell apart. The deal still needs approval from antitrust regulators.
The agreement Thursday capped a months-long bidding war and arrives one day after Spirit's attempt to merge with Frontier Airlines fell apart. The deal still needs approval from antitrust regulators.