Airlines
Spirit Airlines Agrees To Merge with JetBlue
Hours after rejecting a merger agreement with Frontier Airlines, Spirit Airlines has accepted a sweetened offer from JetBlue.
A JetBlue Airbus A321 prepares to land at New York JFK Airport. (Photo: Flickr: Creative Commons (BY-SA) by HawkeyeUK)
A JetBlue Airbus A321 prepares to land at New York JFK Airport. (Photo: Flickr: Creative Commons (BY-SA) by HawkeyeUK)

JetBlue will acquire Spirit Airlines under a definitive merger agreement approved by the companies’ respective boards Thursday, just hours after Spirit announced it had terminated a previous agreement with Frontier Airlines. The $3.8 billion deal comes after multiple rounds of sparring between JetBlue and Frontier Airlines over a Spirit takeover, consummating with Spirit’s acceptance of JetBlue’s offer of between $33.50 and $34.15 per share in cash, depending on the timing of closing.