JetBlue Airways (NASDAQ: JBLU) has a deal to buy Spirit Airlines (NYSE: SAVE) , emerging victorious after a six-month bidding war against Frontier Group Holdings .
JetBlue won the battle, but now the real fight begins. Investors have every reason to be excited about the prospects of a combined JetBlue/Spirit, but it will likely take years for the deal to live up to its potential, if it ever does.
Frontier put Spirit in play back in February, announcing a cash-and-stock deal that would have created the nation's fifth-largest carrier. JetBlue came forward with a rival, higher, bid a month later, but Spirit's board remained loyal to Frontier in part due to fears that antitrust authorities would quash any JetBlue merger effort.
For further details see:
Is JetBlue Stock a Buy After Spirit Deal?