JetBlue Airways has made an unsolicited $3.6 billion bid for Spirit Airlines, potentially snarling merger plans between the ultra-low-cost carrier and Frontier Group Holdings.
The surprise takeover bid shocked some Wall Street analysts, who questioned the benefits of a merger between JetBlue and Spirit and predicted intense antitrust regulatory scrutiny.
'Wait, What?' asked analysts with MKM Partners in a note, reflecting confusion about how the deal would benefit JetBlue.
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