Spirit Airlines Inc on Thursday agreed to a $3.8 billion buyout offer from low-cost rival JetBlue Airways Corp, ending a drawn-out battle for the carrier whose acquisition would help create the fifth-largest U.S. airline.⁠ ⁠ The victory for JetBlue comes after Spirit canceled its $2.7 billion sale to Frontier Group Holdings, but the potential combination is expected to kick off a fight with antitrust regulators.⁠ ⁠ JetBlue's offer price of at least $33.50 per share represents a premium of nearly 38% to the last closing price of Spirit shares. Including a "ticking fee", or small monthly payments to Spirit shareholders from January next year until the deal is completed, the offer can go up to $34.15 per share.⁠ ⁠ Spirit shares were up nearly 5% before the bell as investors cheered the end of a takeover saga that began in April.⁠ ⁠ JetBlue rose 1%, while Frontier was 1.6% higher.⁠ ⁠ Both carriers were locked in a bidding war to create a combined airline that will better compete with legacy U.S. carriers at a time when the industry faces a labor crunch and high jet fuel costs.⁠ ⁠ Link in bio to the full story.⁠ ⁠ ✍️: Reuters⁠ 📷: Getty Images⁠ ⁠ *⁠ *⁠ *⁠ *⁠ #yahoofinance #yahoo #jetblue #spirit #jblu #save