Market Updates
Spirit Ends with JetBlue After Bidding War
Brian Turner
28 Jul, 2022
New York City
Spirit Airlines rose 3.8% to $25.22 after the discount airline canceled its plan to merge with Frontier Air and agreed to be acquired by JetBlue after protracted negotiations.
The boards of directors of both airlines approved the merger agreement under which JetBlue will acquire Spirit for $33.50 a share in cash, including a prepayment of $2.50 per share in cash payable upon Spirit stockholders
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