Frontier-Spirit merger cancelled. JetBlue, Spirit airlines agree to $3.8B Merger.
Where: US
The Facts
Spirit Airlines has announced the collapse of its merger deal with Frontier Airlines.
JetBlue had said in a news release it would pay $33.50 a share in cash for Spirit in a $3.8 billion deal.
JetBlue’s offer is higher than Frontier’s $2.6 billion offer in cash and stock.
Together, Spirit and JetBlue would create the nation’s fifth largest airline.
Regulatory processes and transactions are expected to be completed no later than the first half of 2024.
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