JetBlue Airways Corporation
JBLU,
and Spirit Airlines Inc.
SAVE,
said Thursday they have agreed that JetBlue will acquire Spirit in a deal with an equity value of $3.8 billion that ends a 3-way merger battle with Frontier Group Holdings Inc.
ULCC,
JetBlue will pay $33.50 a share in cash and a ticking fee of 10 cents per month starting in Jan. 2023 through closing, creating an adjusted…