JetBlue has agreed to buy Spirit Airlines in a $3.8 billion deal, a day after Spirit and Frontier Airlines agreed to abandon their merger proposal.
JetBlue has agreed to buy Spirit Airlines for $3.8 billion in a deal that would create the nation's fifth largest airline if approved by U.S. regulators.
The combined airline, which will be based in New York and led by Hayes, would have a fleet of 458 aircraft. The airlines will continue to operate independently until after the transaction closes. If the deal doesn't close due to antitrust reasons, JetBlue will pay Spirit a reverse break-up fee of $70 million and stockholders of Spirit a reverse break-up fee of $400 million less any amounts paid to stockholders of Spirit prior to termination.
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After hot bidding war JetBlue agrees to buy Spirit for $3.8BJetBlue Airways has agreed to buy Spirit Airlines for $3.8 billion and create the nation’s fifth-largest airline if the deal can win approval from antitrust regulators. The agreement Thursday capped a months-long bidding war and arrives one day after Spirit’s attempt to merge with fellow budget carrier Frontier Airlines fell apart. Spirit CEO Ted Christie was thrust into the awkward position of defending a sale to JetBlue after arguing vehemently against the deal, saying that antitrust regulators would never let it happen.
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After hot bidding war JetBlue agrees to buy Spirit for $3.8BJetBlue has agreed to buy Spirit Airlines in a $3.8 billion deal, a day after Spirit and Frontier Airlines agreed to abandon their merger proposal.
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JetBlue Agrees To Buy Spirit Airlines For $3.8B After Bidding War, Fares Could SurgeJUST IN: JetBlue Airways has agreed to buy Spirit Airlines for $3.8 billion and create the nation’s fifth-largest airline if the deal can win approval from antitrust regulators. The bad news? This could mean more expensive flights.
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JetBlue to buy Spirit Airlines in $3.8 billion dealJetBlue announced Thursday it had reached an agreement to buy Spirit Airlines a day after Spirit pulled the plug on merger talks with Frontier Airlines.
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JetBlue Airways agrees to buy Spirit Airlines for $3.8 billion after bidding warJetBlue Airways has agreed to buy Spirit Airlines for $3.8 billion and create the nation's fifth-largest airline if the deal wins approval from antitrust regulators.
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Spirit Airlines shareholders to vote on much-delayed merger with Frontier or JetBlueSpirit Airlines shareholders could pick a preferred buyer for their airline today, when they are scheduled to vote on one of the offers for the budget carrier. If shareholders reject the Frontier bid it would push for an agreement with JetBlue Airways.
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