JetBlue Airways on Thursday agreed to buy Spirit Airlines for $3.8 billion shortly after Spirit scrapped its proposed merger with Frontier Airlines, CNBC and The Wall Street Journal.
Spirit on Wednesday called off the Frontier deal moments before it was set to announce the results of a shareholder vote on it. The discount carrier delayed the vote several times, hoping to get shareholders to support it over JetBlue's more lucrative proposal. Based on Wednesday's closing stock price, Frontier's cash-and-stock deal was worth $2.8 billion.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Higher toy prices from Trump's tariffs have arrivedIn the Spotlight Three out of four toy products in the US come from China
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
'Wrench attacks' are targeting wealthy crypto mogulsThe Explainer The attacks are named for physical coercion that can be used to gain crypto passwords
-
Trump is trying to jump-start US manufacturing. Is it worth it?Today's Big Question The jobs are good. The workers may not be there.
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
The end of WeightWatchers?Talking Point The diet brand has filed for bankruptcy in the US as it struggles to survive in era of weight-loss jabs
