Spirit, JetBlue agree to $3.8B acquisition after Frontier fallout

Spirit Airlines Inc. leadership has agreed to a $3.8 billion acquisition from JetBlue Airways Corp. less than 24 hours after shareholders of the Miramar, Florida-based company rejected a merger with Frontier Airlines. Pending shareholder and regulatory approval, the all-cash deal adds up to between $33.50 and $34.50 a share, depending on when it closes.